Upload
haanh
View
246
Download
0
Embed Size (px)
Citation preview
Industrial Production and CapacityUtilization: The 2009 Annual Revision
Anne Hall, of the Board’s Division of Research and
Statistics, prepared this article. Deepti Iyer provided
research assistance.
On March 27, 2009, the Federal Reserve published
revisions to its index of industrial production (IP) and
the related measures of capacity and capacity utiliza-
tion. Although the revision affected the data from
January 1972 through February 2009, most of the
changes were for the period beginning in 2004.1 The
overall contour of total IP is little changed by the
revision. Industrial output rose steadily at an average
annual rate of 2.3 percent from 2004 through 2007,
then fell sharply in 2008 at a rate of negative 6.7 per-
cent (table 1). Measured from fourth quarter to fourth
quarter, the increase in total IP in 2007 is now
reported to have been 0.3 percentage point less, and
the decrease in total IP in 2008 is now reported to
have been 0.6 percentage point more, than earlier
estimates.2
The revision shows that the rates of capacity
utilization for total industry in the fourth quarters of
2007 and 2008 were both about 1⁄2 percentage point
lower than previously estimated. Utilization in 2007
was 80.4 percent, about 1⁄2 percentage point below its
long-run (1972 through 2008) average, and, in 2008,
it was 74.2 percent, 6.7 percentage points below its
long-run average. The operating rate for manufactur-
ing was revised down 0.6 percentage point in 2007
and 0.8 percentage point in 2008; for the fourth
quarter of 2008, the factory operating rate stood at
70.9 percent, 83⁄4 percentage points below its long-
run average.3 The utilization rate for mines was
revised down about 1⁄2 percentage point in 2006 but
was little revised in other years; at the end of 2008, it
stood at 89.6 percent, about 2 percentage points
above its long-run average. The operating rate for
utilities was revised down 0.7 percentage point in
both 2006 and 2007; in 2008, it was revised down
0.6 percentage point, to 83.6 percent, and was 3.2 per-
centage points below its long-run average.
Compared with the previous estimates, total indus-
trial capacity is now reported to have risen 0.4 per-
centage point less in 2008 and is expected to fall
0.6 percentage point more in 2009. The smaller
increase in 2008 reflected a substantial downward
revision to capacity in the high-technology manufac-
turing industries; the capacity indexes for mining, for
utilities, and for manufacturing outside of the high-
technology industries are all now reported to have
been higher in 2008 than stated previously. The larger
decrease in total industrial capacity in 2009 reflects
downward revisions to the indexes for both durable
and nondurable manufacturing and for mining; the
capacity indexes for other manufacturing (logging
and publishing) and utilities were little changed from
their previous estimates.
Although comprehensive benchmark production
data for manufacturing for 2007 are not yet available,
the updated measures of production incorporate sev-
eral newly available sources of data. Estimates of
manufacturing (NAICS) production were updated
with data from selected 2007 Current Industrial
Reports (CIRs) from the U.S. Census Bureau. Esti-
mates of other manufacturing (logging and publish-
ing) were updated with annual data on logging for
2007 from the U.S. Forest Service and with annual
data on the publishing industry from the Census
Bureau’s Service Annual Survey. The index for min-
Note: Charles Gilbert directed the 2009 revision and, with Kim-berly Bayard, David Byrne, Norman Morin, and Daniel Vine, preparedthe revised estimates of industrial production. Norman Morin andDaniel Vine prepared the revised estimates of capacity and capacityutilization.
1. When necessary to maintain consistency with any revisions tothe data for 1972 and subsequent years, the levels of the productionand capacity indexes for the years before 1972 were multiplied by aconstant. However, utilization rates and rates of change in IP for theyears before 1972 were not revised.
2. Revised data reported in this article were published in Board ofGovernors of the Federal Reserve System (2009), Statistical ReleaseG.17, ‘‘Industrial Production and Capacity Utilization’’ (July 15),www.federalreserve.gov/releases/g17/releases_2009.htm. Data re-ferred to in this article as ‘‘previous’’ appeared in the G.17 releaseissued on March 16, 2009. That release was the last G.17 publishedbefore the annual revision was issued on March 27.
3. Manufacturing consists of those industries in the North Ameri-can Industry Classification System, or NAICS, definition of manufac-turing plus those industries—logging and newspaper, periodical, book,and directory publishing—that traditionally have been considered tobe manufacturing.
A125
August 2009
ing was updated with new annual data on mineral
extraction for 2006 and 2007 from the U.S. Geologi-
cal Survey (USGS). The weights that allocate indi-
vidual production indexes into multiple market groups
were previously derived from the benchmark input-
output accounts for 1997 from the Bureau of Eco-
nomic Analysis (BEA); with this revision, these
weights were updated using data from the benchmark
input-output accounts for 2002.4 Updated price defla-
tors from the BEA were used in the construction of
the revised production estimates. Finally, the new
monthly production estimates also reflect the incorpo-
ration of updated seasonal factors and monthly source
data that became available (or were revised) after the
closing of the reporting window. The results of both
the 2007 Census of Manufactures and the 2008
Annual Survey of Manufactures (both from the Cen-
sus Bureau) should be available for the 2010 revision
to the IP indexes.
Results from the Census Bureau’s Quarterly Sur-
vey of Plant Capacity for the fourth quarters of 2007
and 2008 were used to update the capacity indexes
and capacity utilization rates. In addition, the revi-
sions to the capacity indexes and capacity utilization
rates incorporate the revised production indexes and
newly available data on industrial capacity from the
USGS, the Energy Information Administration of the
U.S. Department of Energy (DOE), and other organi-
zations.
RESULTS OF THE REVISION
As revised, total IP for the fourth quarter of 2008 was
104.4 percent of output in 2002, and capacity stood at
140.7 percent of output in 2002. Both indexes are
lower than reported previously. The capacity utiliza-
tion rate for total industry in the fourth quarter of
2008 was 74.2 percent, 0.7 percentage point below
what was stated earlier. Detailed results of the revi-
sion can be found in the appendix tables.5
4. The updated weights are based on the original release of thebenchmark input-output accounts from September 2007, not on therevised version of the accounts released in January 2008.
5. Table A.1 shows the revised data for total IP, and table A.2 showsthe revised data for capacity and capacity utilization for total industry.Tables A.3 and A.4 show the revised rates of change (fourth quarter tofourth quarter) of IP for market groups, industry groups, specialaggregates, and selected detail for the years 2004 through 2008. TableA.5 shows the revised rates of change of annual IP indexes for marketand industry groups for the years 2004 through 2008. Tables A.6 andA.7 show the revised figures for capacity and capacity utilization.Table A.8 shows the annual proportions of market groups and industrygroups in total IP. Tables A.3, A.4, A.5, and A.6 also show thedifference between the revised and previous rates of change. Table A.7shows the difference between the revised and previous rates ofcapacity utilization for the final quarter of the year. Table A.9 shows
1. Revised rates of change in industrial production and capacity, revised rates of capacity utilization, and the differencebetween revised and previously reported rates, 2004–08
Item
Memo:
2007pro-
portion
Revised rate(percent)
Difference between rates(revised minus previous, percentage points)
2004–08avg.
2004 2005 2006 2007 20082004–08
avg.2004 2005 2006 2007 2008
ProductionTotal index . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 .5 3.0 2.6 1.8 1.8 –6.7 –.2 –.1 .0 .1 –.3 –.6
Manufacturing . . . . . . . . . . . . . . . . . . . 78.6 .3 3.6 3.8 1.2 1.9 –8.7 –.2 –.1 .1 .1 –.4 –.8Excluding selected high-tech
industries1 . . . . . . . . . . . . . . . . . . 74.4 –.4 3.2 2.5 .4 .9 –8.9 –.1 –.1 .1 .3 –.2 –.4Selected high-tech industries. . . . 4.2 11.1 8.6 22.6 13.1 18.2 –6.9 –3.1 –.7 .2 –4.2 –4.1 –6.4
Mining and utilities . . . . . . . . . . . . . . 21.4 1.1 .6 –1.6 4.2 1.6 .6 .1 .0 .0 .3 .1 .2
CapacityTotal index . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 1.1 –.1 .8 1.5 2.0 1.1 –.1 –.3 .0 .2 .2 –.4
Manufacturing . . . . . . . . . . . . . . . . . . . 80.9 1.2 –.1 1.3 1.4 2.2 1.3 –.1 –.3 –.1 .1 .3 –.5Excluding selected high-tech
industries1. . . . . . . . . . . . . . . . . . . 76.2 .7 –.2 .6 1.1 1.0 1.0 .1 .0 .0 .3 .3 .2Selected high-tech industries. . . . 4.7 9.7 1.7 11.9 5.7 22.9 6.3 –3.9 –3.8 –1.2 –4.7 1.5 –11.2
Mining and utilities . . . . . . . . . . . . . . 19.1 1.0 .4 .0 1.9 1.2 1.4 .1 –.4 .4 .8 –.3 .0
Capacity utilizationTotal index . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 78.9 79.0 80.4 80.6 80.4 74.2 –.3 –.1 .0 –.1 –.5 –.7
Manufacturing . . . . . . . . . . . . . . . . . . . 80.9 77.0 77.3 79.2 79.0 78.7 70.9 –.3 –.1 .0 .0 –.6 –.8Excluding selected high-tech
industries1. . . . . . . . . . . . . . . . . . . 76.2 77.1 77.8 79.3 78.8 78.7 71.0 –.4 –.2 –.2 –.2 –.5 –1.0Selected high-tech industries. . . . 4.7 76.1 70.7 77.4 82.8 79.6 69.8 1.3 1.1 2.2 2.9 –.9 1.5
Mining and utilities . . . . . . . . . . . . . . 19.1 86.8 86.8 85.4 87.3 87.7 86.9 –.2 .1 –.2 –.6 –.3 –.2
Note: For production and capacity, the revised rates of change are from the
fourth quarter of the previous year to the fourth quarter of the year indicated;
the differences between revised and previously reported production are also
calculated from Q4-to-Q4 rates.
Capacity utilization rates are for the fourth quarter of the year indicated; dif-
ferences between revised and previously reported capacity utilization are also
calculated from Q4 rates.
1. Manufacturing excluding semiconductors and related electronic compo-
nents, computers and peripheral equipment, and communications equipment.
A126 Federal Reserve Bulletin h August 2009
Industrial Production
The overall contour of IP in this revision is similar to
that reported previously (figure 1). The total index
rose modestly each year from 2004 through 2007 and
then dropped in 2008. Relative to the previous esti-
mates, total IP increased 0.3 percentage point less in
2007 and fell 0.6 percentage point more in 2008.
Revisions to the changes in other recent years were
smaller. The change in total IP was revised down
0.1 percentage point in 2004 and was revised up
0.1 percentage point in 2006; it was not revised
noticeably in 2005.
Market Groups
Although the aggregate index for IP was little revised
before 2007, revisions to the indexes for some market
groups were significant. These revisions largely re-
sulted from the incorporation of the 2002 benchmark
input-output accounts from the BEA, which, as dis-
cussed further in the section on technical aspects of
the revision, updated the weights used to allocate
individual production indexes to multiple market
groups.
The production index for final products and nonin-
dustrial supplies follows an output path similar to that
for total IP; moderate gains in 2004 through 2007
were followed by a drop in 2008 (figure 2 and table
A.3). Compared with the previous estimates, the
index for final products and nonindustrial supplies is
now reported to have advanced 0.5 percentage point
less in 2007 and to have decreased 0.4 percentage
point more in 2008. Overall changes to the rates of
increase in other years were minimal; the change in
the index was revised down 0.1 percentage point in
2004 and was essentially unrevised in 2005 and 2006.
The change in the output of consumer goods was
revised down 1 percentage point in 2007; revisions to
other years were small. The output of durable con-
sumer goods declined in 2004 and 2006, rose slightly
in 2005 and 2007, and dropped sharply in 2008. The
rates of change are now higher than earlier estimates
suggested in 2004 and in 2006 through 2008, and they
are a touch lower in 2005 than previously reported.
Among durable consumer goods, the most significant
revisions were in the index for home electronics,
which now is estimated to have increased less rapidly
in 2005 and 2006, to have increased more rapidly in
2004 and 2007, and to have posted an advance instead
of a decline in 2008. Elsewhere within durable con-
sumer goods, the index for miscellaneous durable
consumer goods is now estimated to have increased
less rapidly in 2005, and to have decreased less
rapidly in 2006, than previously reported. Revisions
to the indexes for the other major categories of
durable consumer goods were smaller.
The index for consumer nondurables shows moder-
ate gains in output in 2004 through 2006, but, with
this revision, it now posts a decline instead of an
advance in 2007. The index also drops slightly in
2008. Revisions in recent years besides 2007 were
small. Among consumer nondurables, the changes in
the index for clothing were revised down for 2004
the annual production and price indexes for selected categories ofcommunications equipment, and table A.10 shows the quarterlyproduction and price indexes for some of the same categories ofcommunications equipment. Table A.11 shows the quarterly priceindexes for selected categories of semiconductors.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A127
through 2006 and revised up for 2007 and 2008. The
index for chemical products, which was previously
flat in 2007 and declined slightly in 2008, now moves
down significantly in both years. The index for paper
products was revised up for 2005 and 2006, revised
down for 2004 and 2007, and stood below its previ-
ous level for the fourth quarter of 2008. The index for
consumer energy products was revised up in 2008 and
posted moderate increases, on net, over the past few
years.
The production of business equipment increased
solidly from 2004 through 2006, rose slightly in
2007, and then fell in 2008. Relative to previous
estimates, the rates of change in the index were
noticeably lower in 2005 and 2007; the revisions to
the data for other recent years were smaller. For
transit equipment, output rose substantially, on net,
from 2004 through 2006 and decreased in 2007; the
index plummeted in 2008, partly because of weakness
in the motor vehicle industry and partly because of a
strike at a major aircraft producer in the second half
of the year. Although the rates of change in the index
for transit equipment were revised down in 2004,
2005, and 2008 and were revised up in 2007, the level
of output at the end of 2008 was nearly the same as
reported previously. The production of information
processing equipment is now estimated to have
expanded less rapidly over the past few years than
reported earlier, and the production of industrial and
other equipment in 2007 and 2008 appears slightly
weaker. The production of defense and space equip-
ment is now higher than estimated previously in 2005
through 2008.
After posting gains in 2004 and 2005, the output of
construction supplies decreased moderately in 2006
and 2007 and then dropped sharply in 2008. The
revisions to this index were relatively small, and its
level in the fourth quarter of 2008 is nearly the same
as reported earlier. The production of business sup-
plies rose modestly from 2004 through 2007 and then
slumped in 2008; the rates of change are higher than
reported earlier for 2005 through 2007 but are lower
for 2004 and 2008.
The production of materials expanded over the
years 2004 through 2007, then fell markedly in 2008;
the rates of change for this index are little revised
before 2008, but the drop in 2008 is larger than
estimated previously. The indexes for durable and
nondurable materials both fell more than 10 percent
in 2008 after having increased moderately, on net,
A128 Federal Reserve Bulletin h August 2009
from 2004 through 2007. The production of durable
materials is now estimated to have risen more slowly
in 2006 and 2007 and to have fallen more quickly in
2008. These revisions were due in large part to
revisions to the index for equipment parts. For nondu-
rable materials, the output gains in 2006 and 2007 are
now higher than stated earlier, largely because the
declines in textile materials in those years are now not
as steep as previously reported and the increases in
chemical materials in the same years were revised up.
The index for energy materials edged up in 2008 after
having increased moderately in the previous two
years, and it is little changed by the revision.
Production by Industry Group
Manufacturing production expanded each year from
2004 through 2007 and then slumped in 2008 (fig-
ure 3 and table A.3). The output of manufacturing
advanced less in 2007, and contracted more in 2008,
than reported earlier. With this revision, the month of
the peak in manufacturing production moved from
July 2007 to December 2007.
For durable goods industries as a whole, output
rose in each year from 2004 through 2007 and fell
sharply in 2008. Revisions to the index for durable
goods industries for the past few years were small on
net. Among durable goods industries, most major
categories followed contours similar to that of the
durable goods aggregate, with net increases from
2004 through 2007 followed by sharp drops in 2008.
Notable exceptions were wood products, nonmetallic
mineral products, motor vehicles and parts, and furni-
ture and related products; the indexes for these cat-
egories started trending down before 2008.
The revisions to the changes in the output of most
major categories of durable goods before 2007 were
slight; exceptions include computer and electronic
products, in which the gain in output in 2006 is now
stated to have been significantly lower, and aerospace
and miscellaneous transportation equipment, in which
the gain in output in 2006 is now stated to have been
somewhat higher. For 2007, the output indexes were
revised down noticeably for wood products, nonme-
tallic mineral products, computer and electronic prod-
ucts, and furniture and related products but were
revised up for miscellaneous manufacturing. For
2008, relative to previous estimates, higher output
indexes are reported for electrical equipment, appli-
ances, and components and for furniture and related
products, but the production indexes for wood prod-
ucts, primary metals, machinery, computer and elec-
tronic products, and motor vehicles and parts were
revised down moderately.
Production in nondurable manufacturing industries
followed a contour similar to that of durable manufac-
turing, with advances in every year from 2004
through 2007 followed by a decline in 2008. Neither
the overall advance in the earlier years nor the decline
last year was as great as the swings in durable
manufacturing. The output index for the nondurable
goods sector in most recent years was little revised,
on net, compared with previous estimates. The cur-
rent revision reports noticeably higher rates of change
in 2007 in textile and product mills, apparel and
leather, and petroleum and coal products but a notice-
ably lower rate of change in chemicals. For 2008,
output is now reported to have fallen markedly faster
for textile and product mills, apparel and leather,
printing and support activities, chemicals, and plas-
tics and rubber products compared with previous
estimates.
The revised output index for other manufacturing
(logging and publishing) fell each year from 2005
Industrial Production and Capacity Utilization: The 2009 Annual Revision A129
through 2008, with a particularly sharp drop in 2008.
Output in these industries is now estimated to have
decreased substantially less in 2006 than reported
earlier, but revisions to the rates for other years were
smaller.
The index for mining rose moderately in the past
two years after a jump in 2006; the increase in 2006
was revised up relative to previous estimates, but the
index is otherwise similar to what was previously
reported. For utilities, the revised output estimates are
also, in general, very similar to those reported earlier.
The estimates for selected high-technology
industries—computers and peripheral equipment,
communications equipment, and semiconductors and
related electronic components—were revised signifi-
cantly over the 2004–08 period (figure 4 and table
A.4). On net, output in the high-tech sector is still
reported to have posted gains in recent years, with
robust increases from 2004 through 2007 followed by
a contraction in 2008. However, the increases in 2006
and 2007 are now shown to have been slower, and the
decrease in 2008 is now shown to have been steeper,
than reported earlier.
Among the major high-tech components, produc-
tion of computers and peripheral equipment rose
solidly in each of the years from 2004 through 2007
and then fell in 2008; the rates of change were revised
up in each of the past few years except 2005. The
output of communications equipment expanded in
each of the past few years, but the rates of increase in
most years are markedly lower than estimated previ-
ously. Most notably, the increase of 20.6 percent that
was reported earlier for 2007 has been revised down
to 6.6 percent based on shipments data from the CIR
for telecommunications. Production of semiconduc-
tors and related components rose solidly from 2004
through 2007 but contracted significantly in 2008.
The expansion in production from 2004 through 2007
was considerably less than stated earlier, and the
slight decline previously estimated for 2008 has been
revised down to a significant decrease.
Capacity
Total industrial capacity is estimated to have risen at
an average annual rate of 1.4 percent in 2005 through
2008 (table A.6). The average annual rate is the same
as previous estimates, but the rates of change in 2006
and 2007 are slightly higher, and the rate of change in
2008 is somewhat lower, than stated previously. In
2009, total industrial capacity is now expected to
decline nearly 1 percentage point; this decline is
larger than estimated previously.
The contour of manufacturing capacity and the
revisions to that contour are similar to those for total
industry. Manufacturing capacity is now shown to
have expanded at an average annual rate of about
1.6 percent from 2005 through 2008, about 0.1 per-
centage point less than estimated earlier. In 2009,
manufacturing capacity is now expected to contract
1.2 percent.
Within manufacturing, the capacity of durable
goods manufacturers expanded moderately in each
year from 2005 through 2008 and is expected to
contract somewhat in 2009. The increase in 2008 was
tempered considerably by the recent revision. The
capacity of nondurable goods manufacturers followed
a similar contour to that of durable goods manufactur-
ers, but the increases from 2005 through 2008 were
smaller, and the decline in 2009 steeper. Nondurable
goods manufacturing capacity is expected to decrease
more in 2009 than in previous estimates; rates of
change in capacity for most major nondurable indus-
try groups were marked down. Capacity for the
logging and publishing industries rose, on net, from
2005 through 2008 but is expected to fall in 2009; the
rates of change are higher as a result of the revision.
Aggregate capacity for the selected high-
technology industries advanced substantially in each
year from 2005 through 2008 and is expected to
expand appreciably in 2009. Relative to previous
reports, capacity in these industries rose less quickly
in 2005, 2006, and especially 2008, but it increased
somewhat more rapidly in 2007. It is expected to rise
faster in 2009 than previously estimated. Excluding
high-technology industries, manufacturing capacity
expanded slightly from 2005 through 2008 but is
expected to decline in 2009. The current estimates are
similar to previous reports except for 2009, during
A130 Federal Reserve Bulletin h August 2009
which the contraction in capacity is now anticipated
to be greater than stated previously.
Capacity at mines is estimated to have fallen in
2005 and to have expanded from 2006 through 2008;
it is expected to recede somewhat in 2009. The gains
in 2006 and 2008 are now reported to have been
larger than previously published, but the increase in
2007 has been revised down, and capacity at mines is
now expected to contract rather than expand in 2009.
Capacity at electric and gas utilities has risen each
year since 2004. The current estimates show larger
gains in 2005 and 2006 than reported earlier; revi-
sions to other recent years were negligible.
By stage of processing, capacity in the crude stage
is now reported to have risen more in 2006 and 2008
than previously shown but is now expected to fall in
2009. The rates of change for capacity in the primary
and semifinished stages were revised down for 2008
and 2009; revisions to earlier years were slight.
Relative to previous estimates, increases to the index
for finished goods processors were revised up in 2007
and 2008, but capacity is expected to fall more in
2009 than stated previously.
Capacity Utilization
From 2005 through 2007, the capacity utilization rate
for total industry stood a little below its long-run
average of 80.9 percent, but in 2008 it fell to 74.2 per-
cent, a level 6.7 percentage points below its long-run
average (table A.7). The utilization rate for total
industry was revised down about 1⁄2 percentage point
in 2007 and 0.7 percentage point in 2008; revisions
for earlier years were smaller.
Similarly, manufacturing capacity utilization, on
balance, spent most of 2005 through 2007 at a little
below its long-run average of 79.6 percent. The
utilization rate in manufacturing tumbled during
2008, reaching 70.9 percent in the fourth quarter of
2008, 83⁄4 percentage points below its long-run aver-
age. Relative to earlier reports, the factory operating
rate was revised down in 2007 and 2008 but was little
changed in earlier years. Within durable goods, utili-
zation rates for many industries were near their
long-run averages from 2005 through 2007 and then
dropped well below average in 2008; among the
exceptions were motor vehicles and parts, nonmetal-
lic mineral products, and wood products, in which the
utilization rate was significantly below average in
2006 and 2007 and then fell even further in 2008. In
the fourth quarter of 2008, three durable goods indus-
tries (nonmetallic mineral products, primary metals,
and furniture and related products) had utilization
rates between 10 and 20 percentage points below
their long-run averages, and two durable goods indus-
tries (wood products and motor vehicles and parts)
had utilization rates more than 20 percentage points
below their long-run averages.
Among durable goods industries, nonmetallic min-
eral products had the largest downward revisions to
utilization over the 2005–08 period; other industries
with large downward revisions to their capacity utili-
zation rates were wood products and motor vehicles
and parts. The durable goods industries that reported
the largest net upward revisions since 2005 were
machinery, aerospace and miscellaneous transporta-
tion equipment, and furniture and related products.
Utilization rates for many nondurable goods indus-
tries were somewhat below their long-run averages in
2005 through 2007 and then fell further in 2008, but
the declines in 2008 were not as great, on average, as
the declines in the utilization rates for durable goods
industries. In the fourth quarter of 2008, four nondu-
rable goods industries (textile and product mills,
paper, printing and support activities, and plastics and
rubber products) had utilization rates between 10 and
20 percentage points below their long-run averages.
The nondurable goods industries with the largest
downward revisions to utilization rates over the
2005–08 period were food, beverage, and tobacco
products; petroleum and coal products; and plastics
and rubber products. Apparel and leather had the most
noticeable upward revisions to its utilization rate over
this period; other nondurable goods industries with
large upward revisions were textile and product mills
and printing and support activities.
Capacity utilization in the other manufacturing
category (logging and publishing) was revised down
in 2005 and revised up from 2006 through 2008. It
stood more than 10 percentage points below its
long-run average in the fourth quarter of 2008.
Capacity utilization in mining was generally above
its long-run average from 2006 through 2008 and, in
the fourth quarter of 2008, stood at 89.6 percent,
about 2 percentage points higher than its long-run
average. Relative to earlier estimates, the utilization
rate for mining was a little lower in 2006 and 2008
but was little changed in 2005 and 2007. At electric
and gas utilities, capacity utilization rates were re-
vised down for 2005 through 2008, and capacity
utilization in the fourth quarter of 2008 is now
estimated to have been more than 3 percentage points
below its long-run average.
The operating rates for the selected high-
technology industries were above their long-run aver-
ages in the fourth quarters of 2006 and 2007 but fell
to more than 8 percentage points below their long-run
Industrial Production and Capacity Utilization: The 2009 Annual Revision A131
averages in 2008 (figures 5 and 6 and table A.7).
Relative to earlier estimates, capacity utilization is
now reported to have been higher in 2005, 2006, and
2008 but lower in 2007. The operating rate for the
computers and peripheral equipment industry is now
shown to have been higher than previously reported
in each of the past few years, particularly 2008, but,
in the fourth quarter of 2008, stood about 4 percent-
age points below its long-run average. The utilization
rate for communications equipment was more than
8 percentage points below its long-run average in
2005 and rose to more than 6 percentage points above
its long-run average in 2006 before dropping in 2007
and 2008; at the end of 2008, the rate was 1.7 percent-
age points below its long-run average. Capacity utili-
zation for communications equipment is now higher
than previously reported in 2005 and 2006 but lower
in 2007 and 2008. Capacity utilization in the semicon-
ductor and related electronic components industry is
now lower than earlier estimates in every year after
2005. The operating rate in this industry was above or
near its long-run average from 2005 through 2007 but
stood more than 16 percentage points below its
long-run average in the fourth quarter of 2008.
TECHNICAL ASPECTS OF THE REVISION
Comprehensive benchmark data for manufacturing
production in 2007 were not available for this revi-
sion. After incorporating the limited information that
was available, the benchmark production indexes for
manufacturing—defined for each six-digit NAICS
industry as nominal gross output divided by a price
index—were little changed before 2007. The princi-
pal changes resulted from small revisions to price
indexes from the Bureau of Economic Analysis and
from improved estimates of price indexes for commu-
nications equipment output constructed by the Fed-
eral Reserve (discussed later in the article). In addi-
tion, the benchmark production indexes for other
manufacturing (logging and publishing) were ad-
vanced through 2007 and updated for 2006 based on
data from the Forest Service and the Census Bureau.
The IP indexes in recent years incorporated infor-
mation from selected CIRs for 2007 from the Census
Bureau, the revised benchmark input-output accounts
for 2002 from the BEA, the Quarterly Survey of Plant
Capacity from the Census Bureau for 2007 and 2008,
and other annual industry reports. The indexes also
A132 Federal Reserve Bulletin h August 2009
incorporated revised monthly and quarterly source
data on production, shipments, inventories, and
production-worker hours.
As mentioned earlier, the benchmark production
indexes for most industries incorporate updated price
indexes from the industry output program of the
BEA. However, the price indexes for pharmaceuticals
(NAICS 325412), for semiconductors (NAICS
334413), and for most components of communica-
tions equipment (NAICS 3342) are constructed by the
Federal Reserve from alternative sources. This article
provides annual and quarterly price indexes for the
relevant components of communications equipment,
along with quarterly semiconductor price indexes
(tables A.9, A.10, and A.11).
Changes to the Methodology for Adjustingfor Temporary Help Supply Employees
The compilation of the initial IP estimate for a given
month relies heavily on the hours worked by produc-
tion workers in the manufacturing sector when the
availability of the other IP source data is limited. The
hours data are adjusted to account for the labor input
of temporary help supply (THS) employees who
work in the manufacturing sector; this adjustment is
necessary because these workers are on the payrolls
of companies that are classified in the service sector
of the economy by the Bureau of Labor Statistics.
These adjusted detailed hours series are used in
making (1) estimates for those IP series based on
labor input for the period for which benchmark output
indexes are not yet available and (2) preliminary
estimates of those IP series based on physical product
data for which the current source data are not yet
available.
The procedure for implementing this adjustment is
as follows. An estimate is made of the component of
THS employment that is allocated to manufacturing.
This estimate begins with a baseline figure projected
from the Current Population Survey but varies based
on the cyclical movements of the manufacturing
sector and the rest of the economy—THS employ-
ment has a cyclical pattern similar to that of manufac-
turing.6
The THS employment in manufacturing is then
allocated among the NAICS three-digit industries
based on each industry’s use of THS workers as
reported in the Census Bureau’s Annual Survey of
Plant Capacity (ASPC) and on each industry’s cycli-
cal patterns. With this revision, the allocation of THS
employment among industries within manufacturing
was updated based on data from the ASPC for 2002
through 2005.7
In addition, this revision updates the method for
estimating each industry’s monthly baseline share of
temporary help employment use in manufacturing.
Previously, this share was held constant for each
industry at the level estimated according to the
method just described. With this revision, the share is
allowed to evolve based on the industry’s share of
total manufacturing employment. THS employment
is multiplied by assumptions on hours worked and on
the productivity of a THS worker relative to a perma-
nent worker to estimate the effective hours contrib-
uted by THS workers for each three-digit manufactur-
ing industry. The THS hours are added to the reported
production-worker hours for each industry to produce
an adjusted production-worker hour series. The per-
centage adjustment for each three-digit industry’s
hours is then applied to the hours series for each of its
component industries.
Estimating the Effect of Hurricanes onProduction
Industrial production in the United States was se-
verely affected by hurricanes in both 2005 (Hurri-
canes Katrina and Rita) and 2008 (Hurricanes Gustav
and Ike). Industries with a large presence in the Gulf
Coast region include oil and natural gas extraction,
petroleum refining, petrochemical manufacturing, and
plastic resin manufacturing. These industries were
mostly shut down during the storms, and storm
damage sometimes delayed their return to operation.
In addition, some other industries in the afflicted areas
also shut down factories. The data on which the IP
indexes are based for many of these industries are not
available on a timely basis; initial estimates for them
were made from other sources. The estimation of
crude oil extraction and petroleum refining output
was relatively straightforward with the availability of
weekly data from the Department of Energy. Timely
output data on natural gas extraction were less avail-
able, but reports by the Minerals Management Ser-
vice of the U.S. Department of the Interior on shut-in
capacity provided a good first estimate until data on
output became available from the DOE. Weekly data
6. See Marcello Estevão and Saul Lach (1999), ‘‘Measuring Tem-porary Labor Outsourcing in U.S. Manufacturing,’’ Finance andEconomics Discussion Series 1999–57 (Washington: Board of Gover-nors of the Federal Reserve System, October), www.federalreserve.gov/pubs/feds/1999/index.html.
7. For several years, the ASPC collected information about theshare of production workers that consisted of temporary workers; thisinformation is not collected in the Quarterly Survey of Plant Capacity,which replaced the ASPC in 2007.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A133
on railcar loadings of chemicals from the Association
of American Railroads and information on shut-in
capacity of petrochemical plants from Chemical Mar-
ket Associates, Inc., and PetroChem Wire were used
to inform the IP estimates for petrochemical manufac-
turing; reports from the National Petrochemical and
Refiners Association on quarterly petrochemical out-
put became available later and improved the esti-
mates. Anecdotal information from contacts in the
plastic resin industry on output was used until monthly
data on production from the American Chemistry
Council became available. The effect of the storms on
other industries was estimated based on data on the
regional distribution of industrial activity from the
County Business Patterns report of the Census Bu-
reau.
Estimation of Capacity in the Light MotorVehicle Industry
Capacity for light duty motor vehicles (NAICS
33611) is expected to contract significantly in 2009.
The estimate for motor vehicle assembly capacity for
a year is constructed from estimates of the peak
historical assembly-line speed over the previous 10
years and the number of hours that can be worked at
each plant in the United States. Annual line speed
data and the number of shifts at individual plants are
reported in Ward’s Automotive Yearbooks. An annual
capacity count for a plant is calculated by multiplying
the peak line speed by the hours per year that the plant
could run. New plants are added to capacity when
they start production, and plants are removed from
capacity when they are permanently shuttered. An
adjustment is made to reflect manufacturers’ plans to
open or close assembly plants only when the dates
have been confirmed and specific plants have been
named. Plant-level data are aggregated using price
weights for the different models of light vehicles, and
if a plant produces multiple models on one assembly
line, capacity is split among models based on esti-
mated production levels for the models at the plant.
Changes to Individual Production Series
With this revision, the monthly production indicators
for some series have changed.
Carpet and Rug Mills
The index for carpet and rug mills (NAICS 31411) is
based on quarterly data on unit shipments from the
Carpet and Rug Institute with a model-based inven-
tory adjustment.8 Formerly, it was based on monthly
data from the same source. A cubic spline is used to
interpolate monthly values from the quarterly figures,
a method similar to that used for the other series for
which only quarterly physical product data are avail-
able.9
High-Technology Goods
Communications equipment
Price indexes for two product classes of communica-
tions equipment were revised to incorporate addi-
tional detail. The price index for enterprise and home
voice equipment (part of NAICS 33421) was updated.
A price index for telephones and answering machines,
one of the two product categories in this industry, was
previously calculated using average selling prices for
two types of phones (corded and cordless) but is now
a matched-model index constructed using detailed
data, beginning in 1997, from the Consumer Electron-
ics Association on transmission frequency, number of
lines, and presence of other features such as caller
identification, speakerphone, and integrated answer-
ing machine. The price index for wireless system
equipment (part of NAICS 33422), which covers
mobile phone infrastructure, was improved by fold-
ing in additional detail on base-station radio transmis-
sion capacity using data from the Dell’Oro Group, a
market research firm. The resulting mobile infrastruc-
ture price index fell 4 percentage points faster per
year, on average, from 2000 to 2008.
Updated price indexes for the six product groups in
communications equipment, introduced in the 2008
revision, are included in this article (table A.9).
Computers
With this revision, a change to the method for estimat-
ing the domestic shipments share of domestic absorp-
tion in electronic computer manufacturing (NAICS
334111) was introduced. The six product-based in-
dexes for computer manufacturing are derived from
quarterly data on nominal domestic absorption from
IDC, an industry research group. For each product, an
estimate of the domestic shipments share of domestic
8. Factory production is calculated as shipments plus the change infactory inventories. When only shipments are available, a model-basedinventory adjustment is applied. See Charles Gilbert and KimberlyBayard (2005), ‘‘Industrial Production and Capacity Utilization: The2004 Annual Revision,’’ Federal Reserve Bulletin, vol. 91 (winter),pp. 9–25, www.federalreserve.gov/pubs/bulletin/2005/05index.htm.
9. See Richard D. Raddock (1993), ‘‘Industrial Production, Capac-ity, and Capacity Utilization since 1987,’’ Federal Reserve Bulletin,vol. 79 (June), pp. 590–605.
A134 Federal Reserve Bulletin h August 2009
absorption—derived from the Census Bureau’s CIR
for computers and peripheral equipment—is used to
convert the IDC domestic absorption data to a domes-
tic shipments concept.10
The domestic shipments share for each of the six
indexes was constructed by dividing the relevant
annual measure of domestic product shipments from
the CIR by the corresponding measure of annual
domestic absorption from IDC. Each of these shares
is converted to a quarterly frequency and projected
forward for more-recent quarters when the CIR data
are not yet available. Prior to the current revision,
projections of the individual domestic shipments
shares were based on monthly data on foreign trade in
computers from the Census Bureau. Specifically,
domestic absorption for the industry (NAICS 334111)
was adjusted by net exports to obtain domestic ship-
ments; the change in the ratio of domestic shipments
to domestic absorption was applied to the shipments
share for each of the six product indexes. With the
current revision, the foreign trade data are no longer
used. Instead, the CIR-based individual domestic
shipments shares are extended out with a model-
based trend for quarters when the annual CIR data are
not yet available. Examination of all relevant data
sources suggests that the shares derived from model-
based trends lead to more-accurate measures of
domestic production than the shares derived from
trade data.
Semiconductors
Beginning with the 2008 revision, detailed price data
on MOS (metal-oxide semiconductor) memory prod-
ucts (part of NAICS 334413) from iSuppli, an indus-
try research group, have been used to construct
quarterly indicator quality-adjusted price indexes for
three categories—DRAM (dynamic random access
memory), flash memory, and other memory. These
prices are included in this article (table A.11).
Civilian Aircraft
With this revision, a change to the methods used for
the calculation of the index of industrial production
for civilian aircraft (part of NAICS 336411) was
introduced. Production in the civilian aircraft industry
is estimated by combining data on aircraft deliveries
with an assumption about the time required to build a
plane and the intensity of activity during that period.
Previously, the production index for aircraft was
based on a 10-month build period, during which
43 percent of production was assumed to have
occurred in the three months immediately before the
delivery and 57 percent was assumed to have oc-
curred in the seven preceding months. Based on
discussions with contacts in the aircraft industry, the
new indexes assume a shorter build period. Specifi-
cally, they now assume that commercial aircraft take
either two or three months to build. The new assump-
tions were applied to the entire history of aircraft
models that are still in production; the data for models
that are no longer in production were left unrevised.
Changes to Individual Capacity Series
Electricity Generation
The capacity index for electric power generation,
transmission, and distribution (NAICS 2211) is now
based on generation capability data from the DOE;
previously it was based on electricity generation
capacity data from the North American Electric Reli-
ability Corporation (NERC). The change was made
because the DOE data are compiled using a more
consistent definition over time. However, because the
DOE data are published with a lag, the capacity
projection for the most recent year or two is estimated
by extending the DOE generation capability series by
the rate of change shown for the NERC electricity
generation capacity data.
Nonferrous Metals (except Aluminum)
The capacity index for nonferrous metal (except
aluminum) production and processing (NAICS 3314)
is now based on copper smelting, copper refining, and
zinc smelting data from the U.S. Geological Survey.
Formerly the capacity index was based on the USGS
data on just copper smelting and copper refining.
Natural Gas Extraction
The DOE no longer publishes physical capacity esti-
mates for natural gas extraction (part of NAICS
211111). Capacity estimates for recent years are
based on trend-through-peak estimates of capacity
using the IP index and output projections from the
Short-Term Energy Outlook (STEO) and Annual
Energy Outlook (AEO) reports of the DOE.
10. Prior to 2006, the CIR for computers and peripheral equipmentwas released annually. Beginning in 2006, the Census Bureau began toissue quarterly reports along with annual summaries. For the construc-tion of the domestic shipments share for 2006 onward, the FederalReserve used only the annual summaries, not the quarterly reports.However, the Federal Reserve carefully follows the quarterly CIRreleases and expects to use them more fully in a few years, when alonger history will be available.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A135
Trend-through-Peak Estimates
As with recent years for natural gas extraction, the
trend-through-peak method of estimating capacity is
also used for those industries in mining and utilities
for which no physical capacity sources are available—
seven individual series accounting for about 5 percent
of capacity. With this revision, the trend-through-
peak method used to estimate capacity indexes for oil
extraction (part of NAICS 211111), natural gas liquid
extraction (NAICS 211112), and natural gas sales and
transmission (NAICS 2212) is based on production
indexes that are extended using output projections
from the STEO and AEO reports.
The basic method in estimating trend-through-peak
capacities for these industries is to construct baseline
estimates of capacity by connecting peaks in produc-
tion, with these peaks representing 100 percent utili-
zation. In practice, the procedure involves a fair
degree of judgment and deviates from a strict trend-
through-peak approach in a variety of ways. First and
most important, if a peak in production was reached
several years ago and production has not subse-
quently approached that previous maximum, pub-
lished capacity levels generally will, after a time,
trend downward. That is, they will tend to follow
recent IP. Second, the capacity levels corresponding
to peaks in production for different series have yielded
a variety of peak utilization rates historically.
Weights for Aggregation
The aggregation method for the IP index is a version
of the Fisher ideal index formula.11 In the IP index,
series that measure the output of an individual indus-
try are combined using weights derived from their
proportion in the total value-added output of all
industries.12 The weights for manufacturing indus-
tries are derived from value-added measures from the
Census of Manufactures and the Annual Survey of
Manufactures. The Federal Reserve derives estimates
of value added for the electric and gas utility indus-
tries from annual revenue and expense data issued by
other organizations. The weights for aggregation,
expressed as unit value added, were estimated with
the latest data on producer prices for the period after
2006. Table A.8 shows the annual value-added pro-
portions in the IP index from 2001 through 2008.
The outputs of most industries are inputs to mul-
tiple markets. Although data that directly split the
output of an industry by its purchaser are sometimes
available, most industry output measures do not pro-
vide that detail. With the 2002 annual revision,
weights that allocate individual IP indexes into mul-
tiple market groups were derived from the Standard
Make and Use Tables (at the detailed level) from the
1997 benchmark input-output accounts of the BEA.13
With this revision, the weights for 2002 were updated
using estimates from the same tables from the 2002
input-output accounts; years subsequent to 2002 were
assumed to have weights identical to those for 2002.
The weights for the period up through 1997 are still
computed from the 1997 accounts, and the weights
between 1997 and 2002 are linear combinations of
the 1997 and 2002 weights.
Revised Monthly Data
This revision incorporates product data that became
available or were revised after the regular six-month
reporting window for monthly IP was closed. These
data were released with too great a lag to be included
with monthly IP estimates but were available for
inclusion in the annual revision.
Revised Seasonal Factors
Seasonal factors for all series were reestimated using
data that extend into 2008 or 2009. Factors for
production-worker hours—which adjust for timing,
holiday, and monthly seasonal patterns—were up-
dated with data through February 2009. The updated
factors for the physical product series, which include
adjustments for holiday and workday patterns, used
data through 2008. Seasonal factors for unit motor
vehicle assemblies have been updated, and projec-
tions through September 2009 are on the Federal
Reserve Board’s website at www.federalreserve.gov/
releases/g17/mvsf.htm.
11. A Fisher ideal index estimates the change in aggregate outputbetween two periods as the geometric average of two aggregate outputindexes—one that weights the component output indexes based onprices from the earlier period and one that uses prices from the laterperiod. An aggregate IP index is the cumulative product of Fisherindexes computed for each period, with concurrent prices (derived asunit value added) applied to the component output indexes for everyperiod.
12. For detailed discussions of the aggregation method, see CarolCorrado, Charles Gilbert, and Richard Raddock (1997), ‘‘IndustrialProduction and Capacity Utilization: Historical Revision and RecentDevelopments,’’ Federal Reserve Bulletin, vol. 83 (February), pp. 67–92, www.federalreserve.gov/pubs/bulletin/1997/97bulletin.htm#feb;and Carol Corrado (2001), ‘‘Industrial Production and Capacity Utili-zation: The 2000 Annual Revision,’’ Federal Reserve Bulletin, vol. 86(March), pp. 132–48, www.federalreserve.gov/pubs/bulletin/2001/01index.htm.
13. See Carol Corrado (2003), ‘‘Industrial Production and CapacityUtilization: The 2002 Historical and Annual Revision,’’ Federal
Reserve Bulletin, vol. 89 (April), pp. 151–76, www.federalreserve.gov/pubs/bulletin/2003/03index.htm.
A136 Federal Reserve Bulletin h August 2009
A.1. Revised data for industrial production for total industry, 1979−2009
Seasonally adjusted data except as noted
Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.Quarter Annual
avg.11 2 3 4
Industrial production (percent change)
1979 . . . . . . . . . . . . . . . –.7 .6 .3 –1.1 .8 .0 –.2 –.7 .1 .6 –.1 .1 1.7 –.6 –1.4 1.5 3.01980 . . . . . . . . . . . . . . . .4 .1 –.3 –2.0 –2.5 –1.2 –.7 .4 1.6 1.3 1.7 .6 1.7 –15.8 –6.3 16.4 –2.51981 . . . . . . . . . . . . . . . –.6 –.5 .5 –.6 .7 .5 .7 .0 –.6 –.7 –1.1 –1.1 .9 1.0 4.3 –8.5 1.31982 . . . . . . . . . . . . . . . –1.9 2.0 –.7 –.9 –.7 –.4 –.4 –.9 –.4 –.8 –.3 –.7 –7.7 –5.1 –6.0 –7.1 –5.21983 . . . . . . . . . . . . . . . 1.9 –.6 .8 1.2 .7 .5 1.5 1.1 1.5 .8 .3 .5 4.9 9.2 14.4 10.8 2.81984 . . . . . . . . . . . . . . . 2.0 .5 .5 .6 .5 .4 .3 .0 –.1 –.1 .4 .1 12.4 6.3 2.8 .4 8.91985 . . . . . . . . . . . . . . . –.3 .5 .1 –.2 .1 .1 –.6 .4 .5 –.4 .3 1.0 1.0 .4 –.7 2.4 1.21986 . . . . . . . . . . . . . . . .5 –.7 –.6 .1 .1 –.3 .6 –.1 .2 .5 .5 .9 2.3 –2.4 1.6 4.7 1.01987 . . . . . . . . . . . . . . . –.3 1.3 .1 .6 .7 .5 .6 .7 .3 1.5 .5 .5 5.5 7.0 7.3 10.2 5.21988 . . . . . . . . . . . . . . . .0 .4 .2 .5 –.1 .2 .2 .5 –.3 .5 .2 .4 3.6 3.6 2.1 2.9 5.21989 . . . . . . . . . . . . . . . .2 –.4 .3 .0 –.7 .0 –.9 .9 –.3 –.1 .3 .6 1.6 –1.7 –2.4 1.8 .91990 . . . . . . . . . . . . . . . –.5 .9 .5 –.1 .2 .3 –.1 .2 .2 –.7 –1.2 –.7 3.1 2.8 1.2 –6.1 1.01991 . . . . . . . . . . . . . . . –.5 –.6 –.5 .2 1.0 1.0 .0 .1 .9 –.2 –.1 –.4 –7.4 2.6 5.5 .9 –1.61992 . . . . . . . . . . . . . . . –.6 .8 .8 .7 .4 .0 .8 –.5 .2 .7 .4 .0 –.5 7.2 2.9 4.0 2.81993 . . . . . . . . . . . . . . . .5 .3 .0 .3 –.4 .2 .4 .0 .4 .7 .4 .5 3.6 .9 2.1 6.0 3.31994 . . . . . . . . . . . . . . . .4 .0 1.1 .5 .6 .7 .2 .5 .2 .9 .6 1.1 5.2 7.5 5.1 8.1 5.31995 . . . . . . . . . . . . . . . .3 .0 .2 .0 .2 .3 –.4 1.4 .4 –.2 .3 .4 5.1 1.2 3.9 3.4 4.81996 . . . . . . . . . . . . . . . –.7 1.7 –.2 .8 .6 .9 –.1 .6 .6 .0 .8 .6 2.9 8.1 5.4 5.6 4.41997 . . . . . . . . . . . . . . . .1 1.2 .8 .0 .7 .5 .5 1.4 .9 .7 .9 .4 7.9 6.4 9.6 10.4 7.31998 . . . . . . . . . . . . . . . .5 .0 .1 .4 .7 –.6 –.4 2.1 –.3 .7 –.1 .3 4.4 3.2 2.9 5.1 5.91999 . . . . . . . . . . . . . . . .5 .4 .2 .2 .7 –.2 .6 .5 –.3 1.4 .6 .8 4.4 3.7 4.1 8.1 4.32000 . . . . . . . . . . . . . . . .0 .4 .4 .6 .2 .1 –.2 –.2 .5 –.4 .0 –.4 4.8 4.9 –.3 –1.2 4.22001 . . . . . . . . . . . . . . . –.7 –.6 –.3 –.3 –.7 –.6 –.4 –.4 –.3 –.6 –.5 .0 –5.7 –5.3 –5.7 –5.0 –3.42002 . . . . . . . . . . . . . . . .5 .0 .8 .3 .5 .9 –.3 .1 .1 –.3 .4 –.5 2.5 5.9 2.1 –.4 –.12003 . . . . . . . . . . . . . . . .7 .3 –.1 –.8 .0 .1 .4 –.1 .6 .1 .9 –.1 2.9 –3.0 2.6 4.1 1.32004 . . . . . . . . . . . . . . . .3 .5 –.6 .5 .7 –.9 .7 .2 .0 .9 .2 .7 2.8 1.8 1.9 5.7 2.52005 . . . . . . . . . . . . . . . .4 .6 –.1 .0 .3 .4 –.1 .2 –1.7 1.1 1.1 .6 5.7 1.7 –.7 4.0 3.32006 . . . . . . . . . . . . . . . .0 .0 .2 .4 –.1 .4 .2 .2 –.3 –.1 –.2 .8 3.6 2.2 2.0 –.6 2.32007 . . . . . . . . . . . . . . . –.5 .8 –.2 .4 .1 .0 .3 .1 .4 –.5 .6 .3 1.8 2.4 2.1 .8 1.52008 . . . . . . . . . . . . . . . –.1 –.3 –.4 –.6 –.3 –.2 –.1 –1.1 –4.0 1.3 –1.3 –2.3 .2 –4.6 –9.0 –13.0 –2.22009 . . . . . . . . . . . . . . . −2.2 –.8 –1.7 –.7 –1.2 −.4 . . . . . . . . . . . . . . . . . . –19.1 −11.6 . . . . . . . . .
Industrial production (2002=100)
1979 . . . . . . . . . . . . . . . 57.6 57.9 58.1 57.5 57.9 57.9 57.8 57.4 57.5 57.8 57.8 57.8 57.9 57.8 57.6 57.8 57.71980 . . . . . . . . . . . . . . . 58.0 58.1 57.9 56.8 55.3 54.6 54.3 54.5 55.3 56.1 57.0 57.3 58.0 55.6 54.7 56.8 56.31981 . . . . . . . . . . . . . . . 57.0 56.7 57.1 56.7 57.1 57.4 57.8 57.8 57.4 57.0 56.4 55.8 56.9 57.1 57.7 56.4 57.01982 . . . . . . . . . . . . . . . 54.7 55.8 55.4 54.9 54.5 54.3 54.1 53.6 53.4 53.0 52.8 52.4 55.3 54.6 53.7 52.7 54.11983 . . . . . . . . . . . . . . . 53.4 53.1 53.6 54.2 54.6 54.9 55.7 56.4 57.2 57.7 57.9 58.1 53.4 54.6 56.4 57.9 55.61984 . . . . . . . . . . . . . . . 59.3 59.6 59.9 60.3 60.6 60.8 60.9 61.0 60.9 60.8 61.1 61.1 59.6 60.5 60.9 61.0 60.51985 . . . . . . . . . . . . . . . 60.9 61.2 61.3 61.2 61.2 61.3 60.9 61.1 61.4 61.1 61.3 62.0 61.2 61.2 61.1 61.5 61.31986 . . . . . . . . . . . . . . . 62.3 61.8 61.4 61.5 61.6 61.4 61.7 61.6 61.8 62.0 62.3 62.9 61.8 61.5 61.7 62.4 61.91987 . . . . . . . . . . . . . . . 62.7 63.5 63.6 64.0 64.4 64.7 65.1 65.6 65.8 66.8 67.1 67.4 63.3 64.4 65.5 67.1 65.11988 . . . . . . . . . . . . . . . 67.5 67.7 67.9 68.3 68.2 68.4 68.5 68.8 68.6 69.0 69.1 69.4 67.7 68.3 68.6 69.1 68.41989 . . . . . . . . . . . . . . . 69.6 69.3 69.4 69.4 68.9 69.0 68.3 69.0 68.8 68.7 68.9 69.4 69.4 69.1 68.7 69.0 69.11990 . . . . . . . . . . . . . . . 69.0 69.6 70.0 69.9 70.0 70.2 70.1 70.2 70.4 69.9 69.0 68.6 69.5 70.0 70.2 69.2 69.71991 . . . . . . . . . . . . . . . 68.2 67.8 67.5 67.6 68.3 68.9 68.9 69.0 69.6 69.5 69.4 69.1 67.8 68.3 69.2 69.3 68.71992 . . . . . . . . . . . . . . . 68.7 69.2 69.8 70.3 70.6 70.6 71.2 70.8 71.0 71.5 71.8 71.8 69.3 70.5 71.0 71.7 70.61993 . . . . . . . . . . . . . . . 72.2 72.4 72.4 72.6 72.3 72.5 72.8 72.8 73.1 73.6 73.9 74.3 72.3 72.5 72.9 73.9 72.91994 . . . . . . . . . . . . . . . 74.6 74.6 75.4 75.8 76.2 76.7 76.9 77.3 77.4 78.1 78.6 79.4 74.9 76.2 77.2 78.7 76.81995 . . . . . . . . . . . . . . . 79.7 79.7 79.8 79.7 79.9 80.1 79.9 80.9 81.3 81.1 81.3 81.7 79.7 79.9 80.7 81.4 80.41996 . . . . . . . . . . . . . . . 81.1 82.4 82.3 83.0 83.5 84.2 84.2 84.7 85.1 85.2 85.9 86.4 82.0 83.6 84.7 85.8 84.01997 . . . . . . . . . . . . . . . 86.5 87.6 88.3 88.3 88.9 89.3 89.8 91.0 91.9 92.5 93.3 93.7 87.5 88.8 90.9 93.2 90.11998 . . . . . . . . . . . . . . . 94.1 94.2 94.2 94.6 95.3 94.8 94.4 96.3 96.1 96.7 96.6 97.0 94.2 94.9 95.6 96.8 95.41999 . . . . . . . . . . . . . . . 97.5 97.9 98.1 98.3 99.0 98.8 99.5 100.0 99.7 101.0 101.6 102.4 97.8 98.7 99.7 101.7 99.52000 . . . . . . . . . . . . . . . 102.4 102.9 103.3 103.9 104.1 104.3 104.0 103.8 104.3 103.9 103.9 103.5 102.9 104.1 104.0 103.7 103.72001 . . . . . . . . . . . . . . . 102.7 102.1 101.8 101.5 100.8 100.1 99.7 99.3 99.0 98.4 97.9 97.9 102.2 100.8 99.3 98.1 100.12002 . . . . . . . . . . . . . . . 98.4 98.4 99.2 99.5 100.0 100.9 100.6 100.6 100.7 100.4 100.9 100.4 98.7 100.1 100.6 100.6 100.02003 . . . . . . . . . . . . . . . 101.1 101.4 101.3 100.5 100.5 100.6 101.0 100.9 101.5 101.6 102.5 102.4 101.3 100.5 101.2 102.2 101.32004 . . . . . . . . . . . . . . . 102.7 103.3 102.7 103.1 103.9 103.0 103.7 103.9 103.9 104.8 105.1 105.8 102.9 103.3 103.8 105.3 103.82005 . . . . . . . . . . . . . . . 106.3 107.0 106.9 106.8 107.1 107.5 107.5 107.7 105.8 107.0 108.2 108.9 106.7 107.2 107.0 108.0 107.22006 . . . . . . . . . . . . . . . 108.9 108.9 109.1 109.5 109.4 109.9 110.1 110.3 110.0 109.8 109.6 110.5 109.0 109.6 110.1 110.0 109.72007 . . . . . . . . . . . . . . . 109.9 110.8 110.6 111.1 111.1 111.2 111.5 111.6 112.0 111.4 112.1 112.4 110.5 111.1 111.7 112.0 111.32008 . . . . . . . . . . . . . . . 112.3 112.0 111.6 111.0 110.7 110.4 110.4 109.2 104.8 106.2 104.8 102.4 112.0 110.7 108.1 104.4 108.82009 . . . . . . . . . . . . . . . 100.1 99.4 97.7 96.9 95.8 95.4 . . . . . . . . . . . . . . . . . . 99.0 96.0 . . . . . . . . .
Note: Monthly percent change figures show the change from the previous
month; quarterly figures show the change from the previous quarter at a com-
pound annual rate of change. Production and capacity indexes are expressed as
percentages of output in 2002.
Estimates from February 2009 through June 2009 are subject to further revi-
sion in the upcoming monthly releases.
1. Annual averages of industrial production are calculated from not season-
ally adjusted indexes.
. . . Not available as of July 15, 2009.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A137
A.2. Revised data for capacity and capacity utilization for total industry, 1979−2009
Seasonally adjusted data
Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.Quarter Annual
avg.1 2 3 4
Capacity (percent of 2002 output)
1979 . . . . . . . . . . . . . . . 67.1 67.3 67.4 67.6 67.8 67.9 68.1 68.2 68.4 68.5 68.6 68.8 67.3 67.8 68.2 68.6 68.01980 . . . . . . . . . . . . . . . 68.9 69.1 69.2 69.3 69.5 69.6 69.8 69.9 70.1 70.2 70.4 70.5 69.1 69.5 69.9 70.4 69.71981 . . . . . . . . . . . . . . . 70.7 70.9 71.0 71.2 71.4 71.5 71.7 71.9 72.1 72.2 72.4 72.6 70.9 71.4 71.9 72.4 71.61982 . . . . . . . . . . . . . . . 72.7 72.9 73.0 73.2 73.3 73.4 73.5 73.6 73.7 73.8 73.9 73.9 72.9 73.3 73.6 73.9 73.41983 . . . . . . . . . . . . . . . 74.0 74.0 74.0 74.1 74.1 74.1 74.1 74.2 74.2 74.2 74.3 74.4 74.0 74.1 74.2 74.3 74.11984 . . . . . . . . . . . . . . . 74.5 74.5 74.7 74.8 74.9 75.1 75.2 75.4 75.6 75.7 75.9 76.1 74.6 74.9 75.4 75.9 75.21985 . . . . . . . . . . . . . . . 76.3 76.5 76.7 76.9 77.1 77.2 77.4 77.6 77.7 77.8 78.0 78.1 76.5 77.1 77.6 78.0 77.31986 . . . . . . . . . . . . . . . 78.2 78.3 78.4 78.5 78.5 78.6 78.7 78.8 78.9 79.0 79.1 79.2 78.3 78.5 78.8 79.1 78.71987 . . . . . . . . . . . . . . . 79.3 79.5 79.6 79.8 79.9 80.1 80.2 80.4 80.5 80.6 80.7 80.8 79.5 79.9 80.4 80.7 80.11988 . . . . . . . . . . . . . . . 80.9 81.0 81.1 81.1 81.2 81.2 81.2 81.3 81.4 81.4 81.5 81.6 81.0 81.2 81.3 81.5 81.21989 . . . . . . . . . . . . . . . 81.7 81.8 82.0 82.1 82.3 82.4 82.6 82.8 82.9 83.1 83.3 83.5 81.8 82.3 82.8 83.3 82.51990 . . . . . . . . . . . . . . . 83.7 83.8 84.0 84.2 84.3 84.5 84.6 84.8 84.9 85.1 85.2 85.3 83.8 84.3 84.8 85.2 84.51991 . . . . . . . . . . . . . . . 85.5 85.6 85.7 85.8 85.9 86.0 86.1 86.2 86.3 86.5 86.6 86.7 85.6 85.9 86.2 86.6 86.11992 . . . . . . . . . . . . . . . 86.8 87.0 87.1 87.3 87.5 87.7 87.9 88.0 88.2 88.4 88.5 88.7 87.0 87.5 88.0 88.5 87.81993 . . . . . . . . . . . . . . . 88.8 89.0 89.1 89.2 89.3 89.4 89.5 89.6 89.7 89.9 90.1 90.2 89.0 89.3 89.6 90.1 89.51994 . . . . . . . . . . . . . . . 90.4 90.6 90.9 91.1 91.4 91.7 92.0 92.3 92.6 92.9 93.2 93.5 90.6 91.4 92.3 93.2 91.91995 . . . . . . . . . . . . . . . 93.9 94.2 94.5 94.8 95.1 95.5 95.8 96.2 96.5 96.9 97.3 97.7 94.2 95.1 96.2 97.3 95.71996 . . . . . . . . . . . . . . . 98.1 98.6 99.0 99.5 99.9 100.4 100.9 101.4 101.8 102.3 102.8 103.3 98.6 99.9 101.4 102.8 100.71997 . . . . . . . . . . . . . . . 103.8 104.3 104.9 105.4 106.0 106.6 107.2 107.8 108.5 109.1 109.8 110.5 104.3 106.0 107.8 109.8 107.01998 . . . . . . . . . . . . . . . 111.2 112.0 112.7 113.4 114.1 114.7 115.4 116.0 116.6 117.1 117.7 118.2 112.0 114.1 116.0 117.7 114.91999 . . . . . . . . . . . . . . . 118.8 119.3 119.8 120.3 120.7 121.2 121.7 122.1 122.6 123.1 123.5 124.0 119.3 120.7 122.1 123.5 121.42000 . . . . . . . . . . . . . . . 124.5 124.9 125.4 125.8 126.2 126.7 127.1 127.5 127.9 128.3 128.7 129.2 124.9 126.2 127.5 128.7 126.92001 . . . . . . . . . . . . . . . 129.6 129.9 130.3 130.7 131.1 131.4 131.8 132.1 132.4 132.7 133.0 133.3 129.9 131.1 132.1 133.0 131.52002 . . . . . . . . . . . . . . . 133.5 133.7 133.9 134.0 134.1 134.2 134.2 134.2 134.2 134.2 134.1 134.1 133.7 134.1 134.2 134.1 134.02003 . . . . . . . . . . . . . . . 134.0 133.9 133.8 133.8 133.7 133.6 133.6 133.6 133.5 133.5 133.5 133.5 133.9 133.7 133.6 133.5 133.72004 . . . . . . . . . . . . . . . 133.5 133.5 133.4 133.4 133.4 133.4 133.3 133.3 133.3 133.3 133.3 133.3 133.5 133.4 133.3 133.3 133.42005 . . . . . . . . . . . . . . . 133.3 133.4 133.4 133.5 133.6 133.7 133.8 134.0 134.1 134.3 134.4 134.6 133.4 133.6 134.0 134.4 133.82006 . . . . . . . . . . . . . . . 134.7 134.9 135.0 135.2 135.4 135.5 135.7 135.9 136.1 136.3 136.5 136.7 134.9 135.4 135.9 136.5 135.72007 . . . . . . . . . . . . . . . 136.9 137.1 137.3 137.6 137.8 138.0 138.3 138.5 138.7 139.0 139.2 139.4 137.1 137.8 138.5 139.2 138.12008 . . . . . . . . . . . . . . . 139.6 139.8 139.9 140.1 140.2 140.4 140.5 140.6 140.7 140.7 140.7 140.7 139.8 140.2 140.6 140.7 140.32009 . . . . . . . . . . . . . . . 140.7 140.7 140.6 140.5 140.4 140.2 . . . . . . . . . . . . . . . . . . 140.7 140.4 . . . . . . . . .
Capacity utilization (percent)
1979 . . . . . . . . . . . . . . . 85.8 86.1 86.1 85.0 85.5 85.3 84.9 84.1 84.1 84.4 84.1 84.0 86.0 85.3 84.4 84.2 85.01980 . . . . . . . . . . . . . . . 84.2 84.1 83.7 81.9 79.7 78.5 77.8 77.9 79.0 79.8 81.0 81.3 84.0 80.0 78.2 80.7 80.71981 . . . . . . . . . . . . . . . 80.7 80.1 80.3 79.7 80.0 80.2 80.6 80.4 79.7 79.0 77.9 76.9 80.3 80.0 80.2 77.9 79.61982 . . . . . . . . . . . . . . . 75.2 76.5 75.8 75.0 74.4 73.9 73.6 72.8 72.5 71.8 71.5 70.9 75.9 74.4 72.9 71.4 73.71983 . . . . . . . . . . . . . . . 72.2 71.8 72.3 73.2 73.7 74.1 75.2 76.0 77.1 77.7 77.9 78.2 72.1 73.6 76.1 77.9 74.91984 . . . . . . . . . . . . . . . 79.7 80.0 80.2 80.6 80.8 81.0 81.0 80.9 80.6 80.3 80.4 80.3 80.0 80.8 80.8 80.3 80.51985 . . . . . . . . . . . . . . . 79.9 80.0 79.9 79.6 79.5 79.3 78.7 78.8 79.0 78.5 78.7 79.4 79.9 79.5 78.8 78.9 79.31986 . . . . . . . . . . . . . . . 79.6 79.0 78.4 78.3 78.4 78.1 78.4 78.2 78.3 78.6 78.8 79.4 79.0 78.3 78.3 78.9 78.61987 . . . . . . . . . . . . . . . 79.0 79.9 79.9 80.2 80.6 80.8 81.2 81.6 81.7 82.8 83.1 83.4 79.6 80.5 81.5 83.1 81.21988 . . . . . . . . . . . . . . . 83.4 83.6 83.8 84.2 84.1 84.2 84.3 84.7 84.3 84.7 84.8 85.0 83.6 84.2 84.4 84.8 84.31989 . . . . . . . . . . . . . . . 85.1 84.6 84.7 84.6 83.8 83.7 82.8 83.3 83.0 82.7 82.8 83.1 84.8 84.0 83.0 82.9 83.71990 . . . . . . . . . . . . . . . 82.5 83.1 83.3 83.0 83.0 83.1 82.8 82.9 82.9 82.2 81.0 80.3 83.0 83.1 82.9 81.2 82.51991 . . . . . . . . . . . . . . . 79.9 79.2 78.7 78.8 79.5 80.1 80.0 80.0 80.6 80.4 80.2 79.8 79.3 79.5 80.2 80.1 79.81992 . . . . . . . . . . . . . . . 79.1 79.6 80.1 80.5 80.6 80.5 81.0 80.4 80.5 80.9 81.1 80.9 79.6 80.6 80.6 81.0 80.41993 . . . . . . . . . . . . . . . 81.2 81.4 81.3 81.4 81.0 81.1 81.3 81.2 81.4 81.9 82.1 82.3 81.3 81.2 81.3 82.1 81.51994 . . . . . . . . . . . . . . . 82.5 82.3 83.0 83.2 83.4 83.7 83.6 83.7 83.6 84.1 84.3 84.9 82.6 83.4 83.6 84.4 83.51995 . . . . . . . . . . . . . . . 84.9 84.6 84.4 84.1 84.0 83.9 83.3 84.2 84.2 83.7 83.6 83.6 84.6 84.0 83.9 83.6 84.01996 . . . . . . . . . . . . . . . 82.6 83.6 83.1 83.4 83.5 83.9 83.4 83.5 83.6 83.2 83.5 83.7 83.1 83.6 83.5 83.5 83.41997 . . . . . . . . . . . . . . . 83.3 83.9 84.2 83.8 83.9 83.8 83.8 84.4 84.7 84.7 85.0 84.7 83.8 83.8 84.3 84.8 84.21998 . . . . . . . . . . . . . . . 84.6 84.1 83.6 83.5 83.6 82.6 81.8 83.1 82.4 82.6 82.1 82.0 84.1 83.2 82.4 82.2 83.01999 . . . . . . . . . . . . . . . 82.1 82.1 81.9 81.7 82.0 81.5 81.8 81.9 81.3 82.1 82.2 82.6 82.0 81.8 81.6 82.3 81.92000 . . . . . . . . . . . . . . . 82.3 82.4 82.4 82.6 82.5 82.3 81.8 81.4 81.5 80.9 80.7 80.1 82.4 82.5 81.6 80.6 81.72001 . . . . . . . . . . . . . . . 79.3 78.6 78.1 77.7 76.9 76.2 75.7 75.2 74.7 74.1 73.6 73.5 78.7 76.9 75.2 73.7 76.12002 . . . . . . . . . . . . . . . 73.7 73.6 74.1 74.2 74.5 75.2 74.9 75.0 75.0 74.9 75.2 74.9 73.8 74.7 75.0 75.0 74.62003 . . . . . . . . . . . . . . . 75.5 75.8 75.7 75.1 75.2 75.3 75.6 75.6 76.0 76.1 76.8 76.7 75.6 75.2 75.7 76.5 75.82004 . . . . . . . . . . . . . . . 77.0 77.4 76.9 77.3 77.9 77.2 77.7 77.9 77.9 78.7 78.8 79.4 77.1 77.5 77.9 79.0 77.92005 . . . . . . . . . . . . . . . 79.7 80.2 80.1 80.0 80.2 80.4 80.3 80.4 78.9 79.7 80.5 80.9 80.0 80.2 79.9 80.4 80.12006 . . . . . . . . . . . . . . . 80.9 80.8 80.8 81.0 80.8 81.1 81.1 81.2 80.8 80.6 80.3 80.9 80.8 81.0 81.1 80.6 80.92007 . . . . . . . . . . . . . . . 80.3 80.8 80.6 80.7 80.7 80.6 80.7 80.6 80.7 80.2 80.5 80.6 80.6 80.6 80.7 80.4 80.62008 . . . . . . . . . . . . . . . 80.5 80.2 79.8 79.2 78.9 78.7 78.6 77.6 74.5 75.4 74.4 72.7 80.1 78.9 76.9 74.2 77.62009 . . . . . . . . . . . . . . . 71.1 70.6 69.5 69.0 68.2 68.0 . . . . . . . . . . . . . . . . . . 70.4 68.4 . . . . . . . . .
Note: See the general note to table A.1. . . . Not available as of July 15, 2009.
A138 Federal Reserve Bulletin h August 2009
A.3. Rates of change in industrial production, by market and industry groups, 2004−081
ItemNAICScode2
Revised rate of change (percent)Difference between rates of change:
revised minus previous (percentage points)
2004 2005 2006 2007 2008 2004 2005 2006 2007 2008
Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0 2.6 1.8 1.8 –6.7 –.1 .0 .1 –.3 –.6
Market Groups
Final products and nonindustrial supplies . . . . . . . . . . . 2.5 4.4 1.1 .8 –5.8 –.1 .0 .0 –.5 –.4
Consumer goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.5 2.5 .1 .2 –4.2 –.1 .1 –.1 –1.0 –.2Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –.5 1.2 –3.2 1.1 –17.2 .2 –.2 .7 .2 .3
Automotive products . . . . . . . . . . . . . . . . . . . . . . . –3.2 –1.5 –5.2 3.2 –22.4 –.4 .5 .2 –.4 .0Home electronics . . . . . . . . . . . . . . . . . . . . . . . . . . 7.4 7.8 8.8 15.3 1.6 4.9 –3.2 –2.7 1.2 3.4Appliances, furniture, carpeting . . . . . . . . . . . . . 1.6 1.5 –5.6 –5.1 –20.4 .0 –.1 .5 .9 .2Miscellaneous goods . . . . . . . . . . . . . . . . . . . . . . . 2.5 4.4 –.7 –1.0 –10.9 .6 –1.2 2.0 .5 –.2
Nondurable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3 2.9 1.2 –.1 –.4 –.3 .2 –.4 –1.3 –.2Non-energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 3.4 1.6 –.9 –1.8 –.3 .3 –.5 –1.8 –.2
Foods and tobacco . . . . . . . . . . . . . . . . . . . . . . . 2.3 4.0 .0 1.1 –1.2 .0 .1 –.3 –.4 .4Clothing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –13.9 –5.8 –4.8 –.5 –6.7 –4.1 –3.7 –5.1 1.4 .8Chemical products . . . . . . . . . . . . . . . . . . . . . . . 3.5 4.2 5.8 –4.2 –2.2 –.4 1.2 –1.9 –4.2 –1.5Paper products . . . . . . . . . . . . . . . . . . . . . . . . . . .9 –.4 .1 –1.8 –4.1 –1.3 .5 2.6 –2.9 –.2
Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.0 1.7 –.1 1.9 3.6 .0 .0 .1 .0 .2
Business equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3 9.2 7.4 2.3 –8.4 .1 –1.1 –.3 –.6 .1Transit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.2 15.0 9.2 –1.4 –29.0 –1.0 –.9 .1 2.0 –1.4Information processing . . . . . . . . . . . . . . . . . . . . . . . 7.0 12.1 10.8 6.6 2.0 .7 –2.6 –1.9 –2.3 2.0Industrial and other . . . . . . . . . . . . . . . . . . . . . . . . . . 4.0 5.6 4.8 1.1 –7.4 .0 –.4 .4 –.6 –.7
Defense and space equipment . . . . . . . . . . . . . . . . . . . 1.7 8.0 –1.9 5.7 –.5 –1.4 1.1 .7 .5 .7
Construction supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.0 7.3 –3.3 –1.0 –11.6 .3 –.2 .2 .6 –.4Business supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9 3.0 .4 1.3 –6.9 –.3 .3 .7 .2 –.8
Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.7 .4 2.7 3.2 –7.9 .0 .1 .2 –.1 –.9Non-energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.4 2.6 1.4 3.5 –12.0 .0 .1 .1 .0 –1.4
Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.8 5.9 .4 4.7 –12.0 –.3 .5 –.7 –.7 –1.9Consumer parts . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0 .6 –5.7 –2.2 –20.3 .0 .1 .1 –.2 –.5Equipment parts . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.3 12.7 6.9 10.3 –6.5 –.8 1.4 –2.4 –2.1 –3.9Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.0 3.0 –1.8 3.2 –12.9 .0 .1 .1 .1 –.9
Nondurable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.8 –2.6 3.1 1.8 –12.0 .5 –.4 1.5 1.3 –.5Textile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –.8 .5 –11.5 –6.9 –13.7 .1 .0 .7 2.5 .7Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.8 –1.0 1.8 –1.4 –10.8 .0 .2 .2 –.1 .1Chemical . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.6 –7.3 6.9 4.3 –15.8 1.0 –1.5 2.1 2.3 –1.1
Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –.5 –4.1 5.5 2.5 .2 .0 .0 .3 –.2 .2
Industry Groups
Manufacturing3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.6 3.8 1.2 1.9 –8.7 –.1 .1 .1 –.4 –.8Manufacturing (NAICS) . . . . . . . . . . . . . . . . . . . . . 31-33 3.7 4.0 1.3 2.0 –8.7 –.1 .0 –.1 –.4 –.8
Durable manufacturing . . . . . . . . . . . . . . . . . . . . . . . 3.8 7.0 1.2 3.2 –11.1 –.2 .0 –.3 –.6 –.8Wood products . . . . . . . . . . . . . . . . . . . . . . . . . 321 1.4 11.8 –13.0 –7.5 –20.7 .0 .1 .3 –.7 –.5Nonmetallic mineral products . . . . . . . . . . . . 327 4.4 5.5 –3.6 –1.2 –10.3 .0 .1 –.1 –2.0 .1Primary metal . . . . . . . . . . . . . . . . . . . . . . . . . . 331 8.3 –.7 –4.2 4.3 –26.8 .2 .4 .0 .2 –2.7Fabricated metal products . . . . . . . . . . . . . . . 332 1.8 6.1 3.3 3.3 –7.0 .0 –.1 .1 –.1 .3Machinery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 333 5.2 8.3 2.8 –1.0 –10.6 .0 .0 .3 –.3 –1.2Computer and electronic products . . . . . . . . 334 9.7 15.3 9.3 11.0 –2.6 –.5 .1 –2.9 –2.9 –3.0Electrical equipment, appliances,
and components . . . . . . . . . . . . . . . . . . . . . . . 335 2.4 1.7 –.4 3.3 –2.9 .1 –.1 .1 –.4 1.8Motor vehicles and parts . . . . . . . . . . . . . . . . 3361-3 –1.8 .1 –6.2 –1.9 –23.3 –.4 .5 –.3 .4 –.5Aerospace and miscellaneous
transportation equipment . . . . . . . . . . . . . . 3364-9 2.9 10.9 5.6 11.1 –12.7 –.5 –.6 1.1 .1 –.2Furniture and related products . . . . . . . . . . . 337 3.4 1.6 –1.7 –2.6 –17.8 .0 .0 –.1 –.9 .6Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . . . 339 1.8 6.4 3.5 2.9 –2.3 .1 –.2 .8 1.3 –.3
Nondurable manufacturing . . . . . . . . . . . . . . . . . . . . 3.5 .7 1.4 .8 –6.3 .0 .0 .1 –.2 –.8Food, beverage, and tobacco products . . . . 311,2 1.3 4.2 .2 1.9 –1.6 .0 .1 –.2 –.3 .0Textile and product mills . . . . . . . . . . . . . . . . 313,4 .5 –.3 –11.4 –7.3 –13.8 .0 –.1 .3 .8 –1.2Apparel and leather . . . . . . . . . . . . . . . . . . . . . 315,6 –8.9 –1.4 –.4 –.8 –8.2 .1 –.1 .4 1.3 –.7Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 322 2.9 –.5 .5 –2.1 –10.9 .0 .2 .2 .1 .1Printing and support . . . . . . . . . . . . . . . . . . . . 323 2.5 .6 2.4 –1.5 –9.6 .1 .1 .4 –.2 –1.3Petroleum and coal products . . . . . . . . . . . . . 324 10.5 –3.7 2.3 .3 .5 .0 .0 .0 .7 .0Chemical . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325 6.6 –1.2 5.1 .7 –9.8 .1 .0 .1 –.7 –1.3Plastics and rubber products . . . . . . . . . . . . . 326 .9 2.5 –3.0 4.5 –11.9 .0 –.1 .7 .1 –1.3
Other manufacturing (non-NAICS) . . . . . . . . . . . 1133, 5111 1.4 –.3 –1.2 –1.8 –8.8 –.7 .2 3.3 –.5 .0
Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 –.9 –4.9 8.7 .3 .8 .0 .0 .5 .1 .2Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2211,2 1.8 2.0 –.6 3.1 .3 .0 .0 .1 .1 .1
Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2211 2.4 3.5 –1.1 3.5 –.8 .1 .1 .1 .2 .3Natural gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2212 –1.2 –4.8 1.4 1.6 5.9 –.1 –.2 –.1 –.4 –.2
1. Rates of change are calculated as the percent change in the seasonally ad-
justed index from the fourth quarter of the previous year to the fourth quarter
of the year specified in the column heading.
2. North American Industry Classification System.
3. Manufacturing comprises North American Industry Classification System
(NAICS) manufacturing industries (sector 31-33) plus the logging industry and
the newspaper, periodical, book, and directory publishing industries. Logging
and publishing are classified elsewhere in NAICS (under agriculture and infor-
mation, respectively), but historically they were considered to be manufactur-
ing industries and were included in the industrial sector under the Standard In-
dustrial Classification (SIC) system. In December 2002, the Federal Reserve
reclassified all its industrial output data from the SIC system to NAICS.
. . . Not applicable.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A139
A.4. Rates of change in industrial production, special aggregates and selected detail, 2004−081
ItemNAICScode2
Revised rate of change (percent)Difference between rates of change:
revised minus previous (percentage points)
2004 2005 2006 2007 2008 2004 2005 2006 2007 2008
Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0 2.6 1.8 1.8 –6.7 –.1 .0 .1 –.3 –.6
Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 –1.8 3.9 2.1 1.3 .0 .0 .2 –.1 .2Consumer products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.0 1.7 –.1 1.9 3.6 .0 .0 .1 .0 .2Commercial products . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.5 .4 1.2 1.9 .5 .0 .0 .0 –.1 .5Oil and gas well drilling . . . . . . . . . . . . . . . . . . . . . 213111 8.4 11.9 14.9 –.7 6.9 .0 .0 .1 .1 .0Converted fuel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3 –2.6 2.6 5.7 –4.4 .0 .0 .0 .4 –.3Primary materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –1.7 –4.7 6.8 1.2 2.0 .0 .0 .4 –.4 .5
Non-energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.4 4.0 1.2 1.7 –9.4 –.1 .0 .1 –.4 –.7Selected high-technology industries . . . . . . . . . . . . . . 8.6 22.6 13.1 18.2 –6.9 –.7 .2 –4.2 –4.1 –6.4
Computers and peripheral equipment . . . . . . . 3341 3.5 25.3 22.1 24.2 –11.9 1.8 –3.6 4.2 7.4 2.2Communications equipment . . . . . . . . . . . . . . . . 3342 2.6 8.9 12.4 6.6 10.4 1.9 –4.8 –8.2 –14.0 1.7Semiconductors and related
electronic components . . . . . . . . . . . . . . . . . 334412-9 13.8 28.4 9.8 22.3 –15.0 –3.5 4.3 –5.7 –3.7 –14.7Excluding selected high-technology
industries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0 2.7 .4 .7 –9.5 –.1 .1 .3 –.1 –.4Motor vehicles and parts . . . . . . . . . . . . . . . . . . 3361-3 –1.8 .1 –6.2 –1.9 –23.3 –.4 .5 –.3 .4 –.5
Motor vehicles . . . . . . . . . . . . . . . . . . . . . . . . . . 3361 –3.4 –1.4 –7.6 –1.9 –30.3 –.7 .9 –.6 .8 –.8Motor vehicle parts . . . . . . . . . . . . . . . . . . . . . 3363 –1.0 –.6 –4.3 .3 –14.8 –.2 .0 .0 –.3 –.3
Excluding motor vehicles and parts . . . . . . . . . . . 3.5 3.0 .9 .9 –8.5 .0 .0 .4 –.1 –.4Consumer goods . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1 3.2 .8 –1.1 –4.2 –.2 .1 –.2 –1.4 –.1Business equipment . . . . . . . . . . . . . . . . . . . . . . . . 5.1 6.6 6.2 2.3 –8.8 –.1 –.7 .4 –.5 .0Construction supplies . . . . . . . . . . . . . . . . . . . . . . 1.9 7.4 –3.4 –1.0 –11.8 .2 –.2 .3 .9 –.3Business supplies . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 2.7 –.6 .4 –9.8 –.3 .3 1.1 .5 –.9Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3 .5 1.4 2.4 –11.2 .3 –.1 .7 .6 –.5
Measures excluding selected high-technologyindustries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7 1.6 1.2 1.1 –6.7 –.1 .0 .3 –.1 –.3
Manufacturing3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2 2.5 .4 .9 –8.9 –.1 .1 .3 –.2 –.4Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1 4.8 –.4 1.4 –11.7 –.1 .1 .1 –.2 .0
Measures excluding motor vehicles and partsTotal industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.4 2.8 2.3 2.0 –5.9 –.1 .0 .1 –.4 –.6
Manufacturing3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 4.0 1.8 2.1 –7.8 –.1 .0 .1 –.5 –.8Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.9 8.1 2.5 4.0 –9.3 –.1 .0 –.4 –.8 –.8
Measures excluding selected high-technologyindustries and motor vehicles and parts . . . . . . . . .Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1 1.7 1.7 1.2 –5.8 .0 .0 .3 –.2 –.3
Manufacturing3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.7 2.7 1.0 1.1 –7.8 .0 .0 .3 –.2 –.4
Measures of non-energy materials inputsFinished processors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.6 6.2 1.7 4.0 –11.1 –.4 .7 –1.1 –1.2 –2.2Primary and semifinished processors . . . . . . . . . . . . . . . 5.3 –.2 1.3 3.2 –12.5 .4 –.3 1.0 .9 –.8
Stage-of-process groupsCrude . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.6 –6.5 7.6 1.2 –4.6 .0 .0 .3 –.5 –.4Primary and semifinished . . . . . . . . . . . . . . . . . . . . . . . . . . 3.5 3.5 –.8 2.5 –8.0 –.2 .2 .2 –.1 –1.0Finished . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5 5.2 3.3 1.1 –5.8 .1 –.2 –.1 –.6 –.1
1. Rates of change are calculated as the percent change in the seasonally ad-
justed index from the fourth quarter of the previous year to the fourth quarter
of the year specified in the column heading.
2. North American Industry Classification System.
3. See table A.3, note 3.
. . . Not applicable.
A140 Federal Reserve Bulletin h August 2009
A.5. Rates of change for annual industrial production indexes, 2004–081
ItemRevised rate of change (percent)
Difference between rates of change:revised minus previous (percentage points)
2004 2005 2006 2007 2008 2004 2005 2006 2007 2008
Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5 3.3 2.3 1.5 –2.2 .0 .0 .1 –.2 –.5
Market Groups
Consumer goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 2.7 .4 1.0 –2.7 –.1 –.1 .1 –.7 –.5Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4 .5 –1.0 .4 –9.9 .3 .0 .3 .7 –.2Nondurable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 3.4 .9 1.1 –.5 –.2 –.1 .1 –1.2 –.5
Business equipment . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3 7.0 9.4 2.7 –1.1 .1 –.3 –1.0 –.7 .1Defense and space equipment . . . . . . . . . . . . . . . . –1.8 10.6 –2.1 3.7 2.5 –1.0 .0 1.2 .0 1.0
Construction supplies . . . . . . . . . . . . . . . . . . . . . . . . 2.3 4.5 2.3 –1.9 –6.3 .1 .0 .0 .6 –.1Business supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1 3.3 1.2 1.3 –2.9 –.1 –.1 .6 .7 –.7
Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1 2.4 2.4 2.0 –1.9 .1 .1 .1 .1 –.5Non-energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.5 4.0 2.7 2.1 –3.7 .2 .1 .2 .0 –.8Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –.4 –1.2 1.7 1.8 1.8 .0 .0 .0 .2 .2
Industry Groups
Manufacturing2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0 4.0 2.5 1.4 –3.2 .0 –.1 .1 –.3 –.6Manufacturing (NAICS) . . . . . . . . . . . . . . . . . . . 3.1 4.2 2.7 1.5 –3.1 .0 .0 –.1 –.3 –.6
Durable manufacturing . . . . . . . . . . . . . . . . . . 4.1 5.5 4.4 2.1 –3.3 .1 .0 –.2 –.6 –.7Nondurable manufacturing . . . . . . . . . . . . . . . 1.9 2.8 .8 1.0 –2.9 .0 .0 .0 .0 –.5
Other manufacturing (non-NAICS) . . . . . . . . . .8 –.3 –1.0 –1.3 –5.7 .0 –1.0 3.3 .1 .1
Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –.6 –1.3 3.3 .6 2.1 .0 .0 .2 .5 .3Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4 2.1 –.6 3.4 .3 .0 .0 .0 .1 –.2
1. The rates of change are calculated from annual averages of seasonally ad-
justed industrial production indexes rather than between the fourth quarter of
one year and the fourth quarter of the next.
2. See table A.3, note 3.
A.6. Rates of change in capacity, by industry groups, 2005−091
ItemRevised rate of change (percent)
Difference between rates of change:revised minus previous (percentage points)
2005 2006 2007 2008 2009 2005 2006 2007 2008 2009
Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 1.5 2.0 1.1 –.9 .0 .2 .2 –.4 –.6
Manufacturing2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 1.4 2.2 1.3 –1.2 –.1 .1 .3 –.5 –.6Manufacturing (NAICS) . . . . . . . . . . . . . . . . . . . 1.4 1.4 2.3 1.3 –1.2 –.1 .1 .3 –.5 –.6
Durable manufacturing . . . . . . . . . . . . . . . . . . 2.4 2.0 3.7 2.0 –.6 –.2 –.4 .4 –1.0 –.2Nondurable manufacturing . . . . . . . . . . . . . . . .5 .8 1.0 .8 –1.7 .1 .5 .2 .1 –1.0
Other manufacturing (non-NAICS) . . . . . . . . . –.2 1.1 .6 .9 –.9 .0 .0 .0 .7 .1Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –1.1 2.3 1.4 1.1 –.7 .0 1.0 –.4 .4 –1.5Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.5 1.3 1.3 2.3 1.8 .8 .5 .0 .1 .1
Selected high-technology industries . . . . . . . . . . . 11.9 5.7 22.9 6.3 8.4 –1.2 –4.7 1.5 –11.2 1.2Manufacturing except selected
high-technology industries2 . . . . . . . . . . . . . . . . .6 1.1 1.0 1.0 –1.6 .0 .3 .3 .2 –.7
Stage-of-process groupsCrude . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –.9 1.5 1.4 1.2 –1.2 –.1 .6 .0 .7 –1.4Primary and semifinished . . . . . . . . . . . . . . . . . . . . . 1.0 1.3 2.0 .8 –1.0 .2 .1 –.1 –1.1 –.5Finished . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 1.8 2.4 2.2 –.6 –.3 .1 .7 .4 –.5
1. Rates of change are calculated as the percent change in the seasonally ad-
justed index from the fourth quarter of the previous year to the fourth quarter
of the year specified in the column heading.
2. See table A.3, note 3.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A141
A.7. Capacity utilization rates, by industry groups, 2005−08
ItemNAICScode1
Revised rate(percent of capacity, seasonally adjusted)
Difference between rates of change:revised minus previous
(percentage points)
2008 avg. 2005:Q4 2006:Q4 2007:Q4 2008:Q4 2005:Q4 2006:Q4 2007:Q4 2008:Q4
Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80.9 80.4 80.6 80.4 74.2 .0 –.1 –.5 –.7
Manufacturing2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79.6 79.2 79.0 78.7 70.9 .0 .0 –.6 –.8Manufacturing (NAICS) . . . . . . . . . . . . . . . . . . . 31-33 79.4 78.9 78.8 78.6 70.9 .0 –.1 –.6 –.9
Durable manufacturing . . . . . . . . . . . . . . . . . . . . . 77.8 77.9 77.3 77.0 67.1 .0 .0 –.8 –.7Wood products . . . . . . . . . . . . . . . . . . . . . . . 321 79.2 89.2 75.2 68.6 54.8 –.7 –.7 –1.5 –1.5Nonmetallic mineral products . . . . . . . . . . 327 77.7 78.1 72.6 70.5 63.0 –5.3 –6.3 –7.5 –5.9Primary metal . . . . . . . . . . . . . . . . . . . . . . . . 331 80.5 83.3 80.4 84.1 61.4 –.6 –.4 .3 –1.5Fabricated metal products . . . . . . . . . . . . . 332 77.5 77.6 79.5 80.5 74.1 –.4 –.4 –.8 –.7Machinery . . . . . . . . . . . . . . . . . . . . . . . . . . . . 333 78.6 79.8 81.8 79.8 70.3 1.3 2.4 2.6 1.5Computer and electronic products . . . . . . 334 78.3 75.3 78.4 75.4 69.4 .6 .4 –2.5 –.6Electrical equip., appliances,
and components . . . . . . . . . . . . . . . . . . . . . 335 83.2 83.1 82.2 82.8 78.4 –.1 .2 –.6 .7Motor vehicles and parts . . . . . . . . . . . . . . 3361-3 76.7 76.4 70.3 70.2 53.6 –1.9 –2.0 –2.1 –2.2Aerospace and miscellaneous
transportation equipment. . . . . . . . . . . . . 3364-9 73.2 73.2 77.3 84.2 72.0 3.2 4.5 3.9 2.9Furniture and related products . . . . . . . . . 337 78.4 79.8 79.0 77.6 65.1 .8 1.5 1.0 2.1Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . 339 76.5 77.0 76.3 74.4 69.4 .2 –.2 –.4 –2.4
Nondurable manufacturing . . . . . . . . . . . . . . . . . . 81.5 80.1 80.6 80.5 74.8 .1 –.2 –.5 –1.2Food, beverage, and tobacco products . . 311,2 81.5 80.3 79.4 79.7 77.1 –.5 –.9 –1.4 –1.9Textile and product mills . . . . . . . . . . . . . . 313,4 81.6 78.5 73.1 71.3 64.7 –1.2 .6 2.5 2.6Apparel and leather . . . . . . . . . . . . . . . . . . . 315,6 79.5 75.2 76.8 77.7 72.2 5.7 4.9 4.7 2.4Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 322 87.6 84.4 84.2 82.6 74.4 .4 –.1 .0 .5Printing and support . . . . . . . . . . . . . . . . . . 323 83.4 78.3 79.7 78.4 72.7 .6 1.1 1.9 3.5Petroleum and coal products . . . . . . . . . . . 324 86.1 88.4 88.8 87.1 85.7 1.1 –.1 –1.7 –3.7Chemical . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325 78.2 75.7 79.0 78.5 70.0 .2 –.1 –.5 –1.3Plastics and rubber products . . . . . . . . . . . 326 83.6 85.2 81.9 84.1 72.7 –.7 –.4 –.5 –1.5
Other manufacturing (non-NAICS) . . . . . . . . . 1133, 5111 84.2 84.1 82.2 80.2 72.5 –1.2 1.5 1.1 .5
Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 87.6 85.4 90.8 89.8 89.6 –.1 –.5 –.1 –.2Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2211,2 86.8 85.3 83.7 85.2 83.6 –.4 –.7 –.7 –.6
Selected high-technology industries . . . . . . . . . . . . . . 78.2 77.4 82.8 79.6 69.8 2.2 2.9 –.9 1.5Computers and peripheral equipment . . . . . . . 3341 78.1 74.3 79.5 81.6 74.1 .0 2.0 3.0 13.7Communications equipment . . . . . . . . . . . . . . . . 3342 76.2 67.5 82.3 77.3 74.3 5.7 8.9 –3.6 –5.3Semiconductors and related electronic
components . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 334412-9 80.6 84.6 84.9 80.0 64.5 .4 –.3 –1.3 –.9
Measures excluding selectedhigh-technology industriesTotal industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81.0 80.5 80.5 80.5 74.4 –.2 –.3 –.5 –.8
Manufacturing2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79.7 79.3 78.8 78.7 71.0 –.2 –.2 –.5 –1.0
Stage-of-process groupsCrude . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86.6 83.1 88.7 88.3 83.8 –.2 –.4 –.8 –1.7Primary and semifinished . . . . . . . . . . . . . . . . . . . . . . . . 82.0 82.6 80.7 80.7 73.4 –.7 –.7 –.6 –.6Finished . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77.7 76.6 77.6 77.2 71.0 .7 .6 –.4 –.7
1. North American Industry Classification System.
2. See table A.3, note 3.
. . . Not applicable.
A142 Federal Reserve Bulletin h August 2009
A.8. Annual proportion in industrial production, by market groups and industry groups, 2000–08
ItemNAICScode1 2000 2001 2002 2003 2004 2005 2006 2007 2008
Total industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Market Groups
Final products and nonindustrial supplies . . . . . . . . . . 57.5 59.0 58.9 58.2 57.0 56.9 56.8 56.2 57.0Consumer goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.4 30.0 31.0 31.0 30.2 29.8 29.3 29.2 29.5
Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.9 8.1 8.9 8.7 8.0 7.4 7.1 6.8 6.3Automotive products . . . . . . . . . . . . . . . . . . . . . . 3.7 4.0 4.7 4.6 4.0 3.6 3.3 3.2 2.9Home electronics . . . . . . . . . . . . . . . . . . . . . . . . . .4 .4 .4 .4 .4 .4 .4 .3 .3Appliances, furniture, carpeting . . . . . . . . . . . . 1.4 1.4 1.4 1.3 1.3 1.3 1.2 1.1 1.0Miscellaneous goods . . . . . . . . . . . . . . . . . . . . . . 2.4 2.3 2.4 2.3 2.3 2.2 2.2 2.1 2.1
Nondurable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.5 21.8 22.1 22.2 22.2 22.4 22.2 22.4 23.2Non-energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.8 18.0 18.2 18.0 17.3 16.7 16.4 16.2 17.1
Foods and tobacco . . . . . . . . . . . . . . . . . . . . . . 9.2 9.8 9.6 9.6 9.3 8.9 8.7 8.8 9.4Clothing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 1.1 .8 .7 .6 .5 .4 .4 .4Chemical products . . . . . . . . . . . . . . . . . . . . . . 4.0 4.6 5.2 5.2 5.1 5.0 5.1 4.8 5.1Paper products . . . . . . . . . . . . . . . . . . . . . . . . . 2.0 2.1 2.1 2.0 1.9 1.8 1.7 1.7 1.7
Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.7 3.8 3.9 4.2 4.9 5.7 5.8 6.2 6.1
Business equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.6 11.2 10.2 9.6 9.4 9.3 9.6 9.3 9.5Transit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 2.0 1.8 1.6 1.6 1.6 1.8 1.6 1.5Information processing . . . . . . . . . . . . . . . . . . . . . . 4.1 3.9 3.2 3.0 3.0 2.8 2.9 2.8 2.9Industrial and other . . . . . . . . . . . . . . . . . . . . . . . . . 5.5 5.3 5.2 5.0 4.9 4.8 5.0 4.9 5.0
Defense and space equipment . . . . . . . . . . . . . . . . . . 1.4 1.6 1.6 1.6 1.5 1.6 1.5 1.5 1.7
Construction supplies . . . . . . . . . . . . . . . . . . . . . . . . . . 4.6 4.8 4.9 4.9 4.8 4.9 5.0 4.9 4.9Business supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.0 11.0 10.8 10.8 10.6 10.6 10.5 10.5 10.7
Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.5 41.0 41.1 41.8 43.0 43.1 43.2 43.8 43.0Non-energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.9 30.3 30.1 29.6 29.7 29.3 29.3 29.2 29.0
Durable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.6 19.2 18.7 18.3 18.2 17.8 17.7 17.2 16.8Consumer parts . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 3.8 4.0 3.8 3.6 3.3 3.2 2.9 2.7Equipment parts . . . . . . . . . . . . . . . . . . . . . . . . . . 8.0 7.2 6.5 6.4 6.3 6.2 6.0 5.8 5.9Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.4 8.2 8.1 8.1 8.3 8.3 8.5 8.4 8.2
Nondurable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.3 11.1 11.4 11.3 11.4 11.5 11.6 12.0 12.2Textile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 .8 .8 .7 .7 .7 .6 .5 .5Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9 2.8 2.8 2.5 2.4 2.3 2.3 2.3 2.3Chemical . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 4.1 4.4 4.5 5.1 5.3 5.5 5.9 5.9
Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.6 10.7 11.0 12.2 13.3 13.8 13.8 14.6 14.0
Industry Groups
Manufacturing2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84.0 83.5 83.2 81.7 80.5 79.5 79.3 78.6 79.0Manufacturing (NAICS) . . . . . . . . . . . . . . . . . . . . 31-33 79.2 78.6 78.5 77.2 76.2 75.5 75.4 74.8 75.3
Durable manufacturing . . . . . . . . . . . . . . . . . . . . . . 45.3 44.0 43.2 42.0 40.7 39.7 39.6 38.4 38.1Wood products . . . . . . . . . . . . . . . . . . . . . . . . 321 1.4 1.4 1.5 1.6 1.6 1.5 1.4 1.2 1.0Nonmetallic mineral products . . . . . . . . . . . 327 2.2 2.2 2.2 2.2 2.2 2.3 2.3 2.2 2.2Primary metal . . . . . . . . . . . . . . . . . . . . . . . . . 331 2.5 2.3 2.3 2.3 2.7 2.6 2.8 2.7 2.5Fabricated metal products . . . . . . . . . . . . . . 332 6.0 5.8 5.7 5.5 5.3 5.3 5.5 5.6 5.9Machinery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 334 5.9 5.5 5.3 5.0 4.9 4.9 5.0 4.9 4.9Computer and electronic products . . . . . . . 334 10.5 9.3 8.1 7.9 7.8 7.4 7.2 6.7 6.9Electrical equipment, appliances,
and components . . . . . . . . . . . . . . . . . . . . . . 335 2.5 2.4 2.2 2.0 1.9 1.9 1.9 1.9 2.0Motor vehicles and parts . . . . . . . . . . . . . . . 3361-3 6.6 6.5 7.4 7.2 6.4 5.9 5.5 5.1 4.5Aerospace and miscellaneous
transportation equipment. . . . . . . . . . . . . . 3364-9 3.2 3.7 3.5 3.3 3.1 3.2 3.2 3.4 3.5Furniture and related products . . . . . . . . . . 337 1.7 1.7 1.8 1.7 1.6 1.6 1.5 1.4 1.3Miscellaneous . . . . . . . . . . . . . . . . . . . . . . . . . 339 2.9 3.1 3.3 3.3 3.1 3.1 3.1 3.1 3.3
Nondurable manufacturing . . . . . . . . . . . . . . . . . . . 33.9 34.6 35.3 35.2 35.5 35.8 35.7 36.5 37.2Food, beverage, and tobacco products . . . 311,2 10.6 11.3 11.3 11.4 10.9 10.6 10.4 10.7 11.5Textile and product mills . . . . . . . . . . . . . . . 313,4 1.4 1.3 1.4 1.3 1.2 1.2 1.1 .9 .9Apparel and leather . . . . . . . . . . . . . . . . . . . . 315,6 1.3 1.2 1.0 .9 .7 .6 .6 .6 .6Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 322 3.1 3.1 3.1 2.9 2.7 2.6 2.6 2.5 2.6Printing and support . . . . . . . . . . . . . . . . . . . 323 2.6 2.6 2.4 2.2 2.1 2.0 1.9 1.9 1.8Petroleum and coal products . . . . . . . . . . . . 324 1.8 1.7 1.8 2.1 3.2 4.2 4.5 5.0 4.7Chemical . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 325 9.3 9.7 10.7 10.8 11.2 11.3 11.4 11.7 12.1Plastics and rubber products . . . . . . . . . . . . 326 3.7 3.7 3.8 3.6 3.4 3.3 3.2 3.1 3.1
Other manufacturing (non-NAICS) . . . . . . . . . . 325 4.8 4.8 4.7 4.5 4.3 4.1 4.0 3.8 3.7
Mining . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 7.1 7.1 7.2 8.5 9.8 10.7 11.0 11.7 10.6Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2211 8.9 9.4 9.6 9.8 9.7 9.8 9.7 9.7 10.4
Electric . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2212 7.6 8.0 8.2 8.2 8.0 8.0 8.1 8.0 8.7Natural gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2211 1.4 1.4 1.4 1.6 1.7 1.8 1.6 1.7 1.8
Note: The IP proportion data are estimates of the industries’ relative contri-
butions to the overall IP change between the reference year and the following
year. For example, a 1 percent increase in durable goods manufacturing be-
tween 2008 and 2009 would account for a .381 percent increase in total IP.
1. North American Industry Classification System.
2. See table A.3, note 3.
. . . Not applicable.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A143
A.9. Annual production and price indexes for selected communications equipment, 1998–2008
Year
Index, 2002=100
Data networkingEnterprise and home
voiceTransmission and
related1 Wireless systemSatellites and earth
stationOther
Production Prices Production Prices Production Prices Production Prices Production Prices Production Prices
1998 . . . . . . . . . n.a 234.4 n.a 170.6 118.2 189.3 n.a 164.8 78.0 160.9 83.6 108.41999 . . . . . . . . . n.a 194.4 n.a 154.3 155.7 169.6 n.a 143.7 70.0 143.2 86.4 106.32000 . . . . . . . . . n.a 174.1 n.a 145.3 228.7 149.3 n.a 129.0 94.6 129.9 111.5 100.42001 . . . . . . . . . 123.3 133.2 n.a 123.1 202.6 116.5 n.a 114.6 82.9 131.1 95.9 100.92002 . . . . . . . . . 100.0 100.0 100.0 108.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.02003 . . . . . . . . . 112.9 76.6 86.6 100.0 81.0 90.5 123.9 83.7 117.2 90.3 97.3 98.62004 . . . . . . . . . 124.2 59.9 74.0 91.0 77.3 83.2 161.8 73.2 175.0 72.4 89.5 99.42005 . . . . . . . . . 160.5 54.3 67.1 82.4 62.2 77.4 159.3 71.7 188.6 75.6 70.6 100.42006 . . . . . . . . . 254.1 51.4 64.0 79.8 69.8 66.5 148.3 67.7 260.2 69.2 66.8 99.82007 . . . . . . . . . 276.1 50.2 69.3 77.5 91.1 61.1 115.5 62.9 286.2 66.1 66.5 99.82008 . . . . . . . . . 282.6 n.a 61.9 n.a 91.8 n.a 146.2 n.a 365.5 n.a 73.2 n.a
Note: The complete set of annual prices necessary to compute the annual
price indexes for 2008 are not available. The estimates for the quarterly price
indexes for 2008 (shown in table A.10) are based on only incomplete data.
1. Category consists of transmission, local loop, and legacy central office
equipment.
n.a. Not available.
A.10. Quarterly production and price indexes for selected communications equipment, 1998:Q1–2008:Q4
Year andquarter
Index, 2002=100
Data networking Enterprise and home voice Transmission and related1 Wireless system
Production Prices Production Prices2 Production Prices Production Prices
1998:Q1 . . . . . . . . . n.a n.a n.a n.a 96.9 118.6 n.a n.aQ2 . . . . . . . . . n.a n.a n.a n.a 115.2 118.7 n.a n.aQ3 . . . . . . . . . n.a n.a n.a n.a 124.8 117.1 n.a n.aQ4 . . . . . . . . . n.a n.a n.a n.a 135.2 117.6 n.a n.a
1999:Q1 . . . . . . . . . n.a n.a n.a n.a 123.9 120.2 n.a n.aQ2 . . . . . . . . . n.a n.a n.a n.a 143.5 127.2 n.a n.aQ3 . . . . . . . . . n.a n.a n.a n.a 166.8 129.2 n.a n.aQ4 . . . . . . . . . n.a n.a n.a n.a 187.8 128.0 n.a n.a
2000:Q1 . . . . . . . . . n.a n.a n.a n.a 213.0 134.0 n.a 121.9Q2 . . . . . . . . . n.a n.a n.a n.a 235.9 138.0 n.a 122.6Q3 . . . . . . . . . n.a n.a n.a n.a 228.2 140.0 n.a 123.7Q4 . . . . . . . . . n.a n.a n.a n.a 237.4 135.6 n.a 124.7
2001:Q1 . . . . . . . . . 150.9 148.0 n.a n.a 250.0 115.2 n.a 124.4Q2 . . . . . . . . . 126.2 137.1 n.a n.a 210.6 112.7 n.a 122.4Q3 . . . . . . . . . 109.6 127.4 n.a n.a 206.2 109.5 n.a 114.7Q4 . . . . . . . . . 107.3 126.9 n.a n.a 144.7 106.0 n.a 110.7
2002:Q1 . . . . . . . . . 105.0 110.7 116.9 n.a 131.8 102.3 98.0 109.2Q2 . . . . . . . . . 99.3 107.3 102.2 n.a 105.2 102.2 99.7 106.3Q3 . . . . . . . . . 98.3 91.6 91.4 n.a 88.1 98.0 99.3 93.9Q4 . . . . . . . . . 97.5 90.6 90.0 n.a 75.6 97.6 103.0 90.9
2003:Q1 . . . . . . . . . 97.7 87.9 91.5 104.3 80.9 94.7 103.3 87.4Q2 . . . . . . . . . 109.8 80.8 87.0 100.7 81.9 91.1 106.4 83.8Q3 . . . . . . . . . 119.4 70.7 92.2 97.9 79.1 89.2 131.8 69.2Q4 . . . . . . . . . 124.4 63.0 75.9 97.2 82.0 91.6 153.6 65.7
2004:Q1 . . . . . . . . . 139.8 60.5 79.1 97.2 82.2 92.1 163.9 65.8Q2 . . . . . . . . . 118.9 59.6 77.5 95.4 80.7 89.6 160.4 68.6Q3 . . . . . . . . . 122.8 58.2 70.7 90.9 72.4 88.1 161.2 68.5Q4 . . . . . . . . . 115.6 56.4 68.7 89.4 73.9 88.5 161.9 74.1
2005:Q1 . . . . . . . . . 128.7 54.0 65.5 86.4 69.0 85.2 158.6 77.1Q2 . . . . . . . . . 146.9 53.5 65.8 86.4 64.7 79.3 163.1 74.8Q3 . . . . . . . . . 162.6 52.9 69.2 82.6 58.7 79.2 160.3 70.2Q4 . . . . . . . . . 203.1 51.9 67.9 81.5 56.6 76.4 155.4 66.3
2006:Q1 . . . . . . . . . 220.4 51.9 64.3 81.5 61.2 75.8 159.2 64.4Q2 . . . . . . . . . 245.4 50.6 64.8 80.5 69.1 74.2 160.5 65.2Q3 . . . . . . . . . 269.5 49.5 61.7 79.8 74.2 75.2 154.5 68.3Q4 . . . . . . . . . 280.3 48.7 65.4 79.2 74.5 73.4 119.5 71.1
2007:Q1 . . . . . . . . . 276.9 49.0 69.1 79.1 84.6 71.1 113.0 71.0Q2 . . . . . . . . . 271.9 50.0 69.7 77.5 89.9 69.0 103.9 68.4Q3 . . . . . . . . . 276.6 49.2 71.3 76.8 93.0 67.2 115.2 58.0Q4 . . . . . . . . . 279.0 47.9 66.9 75.8 96.9 65.6 129.6 48.2
2008:Q1 . . . . . . . . . 287.5 49.3 65.3 76.7 96.1 65.2 139.6 48.7Q2 . . . . . . . . . 295.5 48.1 62.7 76.0 96.7 62.5 158.6 48.3Q3 . . . . . . . . . 279.6 48.6 64.3 73.6 87.9 60.0 144.5 47.7Q4 . . . . . . . . . 268.1 47.5 55.2 73.1 86.7 57.0 142.3 46.9
Note: Quarterly production and price indexes are not available for two cat-
egories of communication equipment shown in table A.9: “satellites and earth
station” and “other.”
1. Category consists of transmission, local loop, and legacy central office
equipment.
2. Index, 2003=100.
n.a. Not available.
A144 Federal Reserve Bulletin h August 2009
A.11. Quarterly price indexes for selected semiconductors,1998:Q1–2008:Q4
Year andquarter
Index, 2002=100
Dynamic randomaccess memory
Flashmemory
Othermemory1
Prices Prices Prices
1998:Q1 . . . . . . . . . 956.2 367.2 514.6Q2 . . . . . . . . . 689.7 340.0 478.0Q3 . . . . . . . . . 530.0 286.0 439.5Q4 . . . . . . . . . 572.6 280.3 421.9
1999:Q1 . . . . . . . . . 640.0 234.5 439.6Q2 . . . . . . . . . 520.3 229.9 471.3Q3 . . . . . . . . . 493.0 285.7 469.9Q4 . . . . . . . . . 663.0 321.3 465.7
2000:Q1 . . . . . . . . . 516.1 314.1 396.6Q2 . . . . . . . . . 482.6 327.9 410.7Q3 . . . . . . . . . 513.8 317.5 409.3Q4 . . . . . . . . . 319.6 300.5 385.9
2001:Q1 . . . . . . . . . 206.1 232.8 275.1Q2 . . . . . . . . . 125.6 202.9 231.3Q3 . . . . . . . . . 72.6 164.6 188.3Q4 . . . . . . . . . 59.8 136.4 155.5
2002:Q1 . . . . . . . . . 125.2 109.7 114.9Q2 . . . . . . . . . 101.2 103.7 103.8Q3 . . . . . . . . . 85.4 96.3 94.7Q4 . . . . . . . . . 88.8 90.5 86.9
2003:Q1 . . . . . . . . . 63.9 84.2 91.7Q2 . . . . . . . . . 56.8 74.1 85.2Q3 . . . . . . . . . 67.5 69.3 79.4Q4 . . . . . . . . . 64.1 66.5 77.3
2004:Q1 . . . . . . . . . 62.1 61.5 74.7Q2 . . . . . . . . . 65.9 58.4 69.0Q3 . . . . . . . . . 62.2 45.4 73.8Q4 . . . . . . . . . 53.4 35.9 68.8
2005:Q1 . . . . . . . . . 43.5 31.8 63.0Q2 . . . . . . . . . 32.9 29.0 61.3Q3 . . . . . . . . . 32.3 26.2 58.7Q4 . . . . . . . . . 29.1 24.3 59.5
2006:Q1 . . . . . . . . . 28.7 19.6 66.4Q2 . . . . . . . . . 28.9 16.9 63.7Q3 . . . . . . . . . 30.5 14.6 61.6Q4 . . . . . . . . . 33.5 14.0 59.1
2007:Q1 . . . . . . . . . 25.6 10.8 60.2Q2 . . . . . . . . . 15.2 10.8 59.1Q3 . . . . . . . . . 13.6 12.5 50.2Q4 . . . . . . . . . 9.1 10.3 42.1
2008:Q1 . . . . . . . . . 6.9 7.3 52.1Q2 . . . . . . . . . 7.9 6.6 50.9Q3 . . . . . . . . . 6.6 4.8 50.8Q4 . . . . . . . . . 4.6 4.0 46.1
1. Other memory comprises all types of memory except flash memory and
dynamic random access memory; static random access memory is its largest
component.
Industrial Production and Capacity Utilization: The 2009 Annual Revision A145